Newport Beach-Corona Del Mar|News|
Bad News for Those Seeking Affordable Homes
A UCLA economic forecast indicates construction won't be able to keep up with demand for new homes in California.

A UCLA economic forecast indicates construction won't be able to keep up with demand for new homes in California.

A UCLA forecast warns that supply can't keep up with demand, prompting a need for shifting policies for affordable housing.

The pace of home sales slowed in August as reduced affordability priced many out of the market.
Pending home sales in California posted the strongest month increase in six years, but there may be signs of slowing down.
Sales are up by 15.5 percent and prices by 4.7 percent while affordability is down to 21 percent, which amounts to the historical "normal."
Only 20 percent of the population can afford a home in Orange County where the median price is $713,000.
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The number of Orange County homes sold in June soared.
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Sales are picking up even as inventory remains tight and buyers struggle with affordability.
Step outside and onto the beach. This home--and others--are currently for sale.
Your latest list of local homes on the market from Zillow.
Take a look at this eye-popping chart—see where you can, and cannot, afford a house.
It's nearly 27 times cheaper to rent in Newport Beach than to buy a home.
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Orange County's median home prices rose 2.3 percent year-over-year, but with price increases, sales slowed by more than 10 percent.
One county saw home sales decline in December.
Local real estate listings.
Barry Saywitz
"Pent-up demand, job growth and still-slow mortgage rates continue to put pressure on home prices," says one analyst.
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The answer to affordable housing lies in less space and more peace of mind.
Newport Beach, Newport Coast and Corona del Mar rank among the top 100 areas in Forbes' annual rankings of the most expensive ZIP codes in the country.
The map below shows the number of owner-occupied homes valued between $150,000 and $199,999 in your neighborhood, as reported by the US Census Bureau.
A guide to local houses on the market, from our partners at Zillow.
A guide to local houses on the market, from our partners at Zillow.
The Mediterranean-style estate is listed at $8.599 million and includes a gym, hair salon and a shark tank.
DataQuick also reported that median sale prices have shown year-over-year increases of more than 20 percent for each month, culminating with a 28 percent increase in June 2013.
The median home price in Orange County climbed by nearly $100,000 in June compared to the same month a year ago.
A guide to local houses on the market, from our partners at Zillow.
Lower interest rates are offset by rising home prices during the last quarter of 2012. Less than half the population can afford a $353,000 home.
Newport Beach had 16 foreclosures on homes valued more than $1 million from January through October 2012, according to the Wall Street Journal, citing figures provided by Zillow.
Newport Beach is the second most expensive place to own a home in the nation, according to a new report.