The 2013 Santa Clarita Valley Real Estate and Economic Outlook Volume 13 • Number 1 February 2013 This publication was prepared by: The California Economic Forecast Mark Schniepp, Director 5385 Hollister Avenue, Box 207 Santa Barbara, California 93111 (805) 692-2498
[email protected] Visit our website at: www.californiaforecast.com3 Copyright ©2013 by the California Economic Forecast Reproduction of this document or any portion therein is pro- hibited without the expressed written permission of the Cali- fornia Economic Forecast. All queries regarding this publica- tion should be directed to the California Economic Forecast. 12 SANTA CLARITA VALLEY 2012 Table of Contents Executive Summary 14 The Forecast 24 Demographics 38 Employment 46 Residential Real Estate 60 Commercial Real Estate 74 New Development 82 Quality of Life 94 Acknowledgements 106 2012 REAL ESTATE AND ECONOMIC OUTLOOK 13 EXECUTIVE SUMMARY SANTA CLARITA VALLEY 2013 The National Economy The Housing Market New Development Forecast Summary 2013 REAL ESTATE & ECONOMIC OUTLOOK 14 EXECUTIVE SUMMARY SANTA CLARITA VALLEY 2013 Executive Summary The recovery is here to stay Mark Schniepp February 17, 2013 The National Economy slowdown in exports, and less inventory building by companies. The nation’s The U.S. economy admirably weathered the manufacturing sector was also weak. storm created by the political drama over the fiscal cliff. There was not much fallout The economy will not fall backward this quarter, for investors as the stock market rallied in despite higher taxes. In general, the stock December, and again in January. Employment market was relieved to see the fiscal cliff gains held steady through the end of 2012 and avoided, at least for the moment.