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Real estate trends for Southern California in 2011

Homebuying could see a substantial increase this year if unemployment falls and consumers show a willingness to spend.

Homebuying could see a substantial increase this year if unemployment falls and consumers show a willingness to spend.

Unemployment decreasing, consumer confidence increasing and a surge in homebuying are just a few of the real estate projections for the Orange County area in 2011, according to the Orange County Register.

The article, which assesses 11 possible trends for the real estate market this year, states homebuyers and construction companies will benefit from the housing market in 2011, with homes being sold at a steady rate, in turn creating a larger demand for housing construction.

Alexis McGee, president of ForeclosureS.com, told the paper, "The surprise in 2011 will be a strengthening in the housing market from an increase in demand for housing, when buyers who have been sitting on the sidelines, jump in to grab once in a lifetime deals."

Other predicted trends include the majority of people moving to Southern California being older, as well as a spike in purchases of houses near the coast being.

According to MDA DataQuick, approximately 31,403 new and resale houses and condos were sold in California in November, down 3.9 percent from 32,669 in October.