Orange County Apartment Market To See Growth in 2012

ORANGE COUNTY, CA-The multifamily market is warming up in balmy Orange County, CA, where record low construction levels, a high-priced housing market and steady job growth all point toward growing investment activity in 2012, according to report released by Marcus & Millichap.

 “The demand is fairly stable because Orange County is coastal,” says Joe Cesca, senior manager of the firm’s Newport Beach office.  Even though coastal locations are generally costly housing markets in California, the county “still has some affordable areas, along with some high-end neighborhoods,” he says. Plus, “it’s a great place to live with a nice employment base,” he adds.