February 2014

Allen Matkins Real Estate

Development Law Update February 2014

California

Jobs Above Historical Averages

Orange County

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Permits Below Peak

Orange County

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Jobs Outpace Permit Activity

Orange County

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Sales Activity Tapers

Orange County

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Affordability Drops…but still good

Orange County

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Orange County

Map of New Home Projects in OC

Orange County

© 2013 Zonda | Meyers Research LLC

1

10

9

8

7 6 5 4

2

3 3

11

In addition, Irvine Company has

additional ~6,500 unit across the

Irvine Ranch that could enter the

market between 2015-2016

NumberProject

Name

Builder/

Developer/

Owner

Number

of Units

Expected

Market

Entry

1 Orchard Hills Irvine Company 615 1Q2014

2 Tustin Legacy Standard Pacific Homes 238 3Q2014

3 Pavillion Park FivePoints 726 ACTIVE

4 District 1 FivePoints 1,006 1Q2015

5 Baker Ranch Shea Homes/Toll Brothers 1,780 2Q2014

6 Towne Center Trumark/Brookfield 224 4Q2013

7 Portola Center Unknown 873 4Q2014

8 RMV PA 2 Rancho Mission Viejo 862 2Q2015

9 Sendero Rancho Mission Viejo 941 ACTIVE

10 Pacific Point Lehman Holdings 318 4Q2015

11 Marblehead Lehman Holdings 308 2Q2015

Total 7,891

Job Above Historical Averages

Orange County

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Issuances Trending Upward

Orange County

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Job Growth Outperform Issuances

Orange County

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FHA Loan Limit Ceiling Drops

Orange County

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New Home Sales Near FHA Limits

Orange County

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New Home Prices Down But, there are more affordable options

Orange County

© 2013 Zonda | Meyers Research LLC

Affordability Climbs

Orange County

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Resale Market up 22%

Orange County

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Foreclosures a Non-Issue

Orange County

© 2013 Zonda | Meyers Research LLC

Foreclosures a Non-Issue

Orange County

© 2013 Zonda | Meyers Research LLC

Want more information? Find out how to get timely housing, economic, and demographic information for your market.

For questions, contact: Jeff Meyers jmeyers@meyersllc.com

THANK YOU

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