IE & OC SFR markets overvalued according to CoreLogic report

[Chad Aziz]

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"The housing stock in Orange County and the Inland Empire was “overvalued” as of August, while home values in Los Angeles County and the overheated San Francisco peninsula were not, according to a recent analysis by CoreLogic, an Irvine-based real estate data firm. "

"Rising home prices are expected to occur for at least another year. U.S. house prices are projected to rise 4.7 percent more by August 2018, CoreLogic reported. Still, the pace of market gains is showing signs of slowing down."

[Aaron Norris]

Southern California counties are huge. Riverside and San Bernardino are two of the biggest in the country. It has not had quite the run out coastal communities have had and from an affordability perspective, both will likely enjoy steady and slow increases. I forget how CoreLogic looks at valuations but in Riverside County alone, you've got Palm Springs, riverside, Moreno Valley, hemet, Temecula, etc. widely different markets with different things happening. I feel county-wide forecasting isn't always helpful. I wish I would have bought more for the long haul.