As Costa Mesa nears the end of 2020, one of this year’s defining economic hallmarks was the sustained continuation of real estate price rises. According to last week’s email announcement from industry price monitor CoreLogic, U.S. price advances were more pronounced than had been foreseen by nearly anyone a year ago. Through the end of October, year-over-year, annual average housing prices rose by 7.3%.

These returns are studied by industry professionals—including Costa Mesa real estate agents and brokers—not only for comparison with recent local sales results, but as indicators of what to expect going forward. The details in CoreLogic’s “HPI Forecast” are just that—predictions—well-informed estimates rather than certainties. Based on U.S. public records and a selection of real estate databases, this latest prediction anticipates that home price growth will gradually slow over the coming 12 months.

Since that would moderate “the fastest annual acceleration since April 2014,” most Costa Mesa real estate watchers would be pleased to see it come to pass. Still, for anyone with less than a steel-trap memory, that “April 2014” date could have them scratching their head, trying to recall what was going on in the spring of 2014 that surpassed this latest 7+% price growth spurt?

A look back reminds us of a few reasons (here quoted from a Trulia ‘Commentary and Analysis’ published at the time):

  • The most substantial asking price increases came from areas that had sustained the steepest price declines during the housing bust.
  • Asking prices were rising 9.0% year-over-year.
  • Sharp price increases also corresponded with areas where construction starts were lagging—some registering “less than half of normal” activity.

Other details were echoes of the housing bust and the steep recovery from it.

If this latest prediction of moderately slowing price increases is on-target, Costa Mesa’s real estate picture will fall in line with longer-term trends—and what appears to be a more typical stable growth profile.

For Costa Mesa real estate matters large and small, please don’t hesitate to call!

We are built on a philosophy of Heritage & Hustle. The L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976.  It’s L3 mission is to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. The L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, The L3 has grown to a full staff of 25 serving over 300 clients a year. The L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has The L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa  If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to The L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact The L3 today at 714-444-4663 or email us at



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