Southern CA Prices May Increase 10% in 2010

1/16/2010, OC Register, Jonathan Lansner and Jeff Collins

Southern California Rising in 2010

Lawrence Yun, the chief economist for the National Association of Realtors, said he wouldn't be surprised if Southern California home prices increased as much as 10% this year--a departure from his earlier predictions that prices would increase in the 3% to 5% range...."I do anticipate job creation to come around in the later half of 2010..." Asked to comment on UCLA's forecast that Orange Count home prices would rise 16% this year, Yun once said that it was "bubblish" but now, "if it were to happen anywhere in the country, it would be in Southern California."