The surveyed brokerage firms, which include Grubb & Ellis, Cushman & Wakefield, CB Richard Ellis and Colliers Seeley, expect that lease rates countywide will decrease by anywhere between 5% to 15% over the next several months. Predictions range from decreases of 5% to 10% in West Orange County to decreases of 10% to 15% in Central and North Orange County.
On the other hand, sale prices are expected to stay fairly steady over the next quarter. Grubb & Ellis predicts a 5% drop in prices for South Orange County and the Airport region, while prices in Central and North Orange County are expected to stay stable. The Mid-Cities region is also expected to stay fairly stable, with prices decreasing by 5% at the most.
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