Execs Upbeat About Market’s Future

It’s hard to believe, optimists that they are, but Orange County real estate executives are feeling much more bullish about the local market for 1997 than they did about the market this year, according to a survey conducted by E&Y; Kenneth Leventhal Real Estate Group in Newport Beach.

In the recent survey of 50 Orange County executives, 90% of respondents said that the local economy will report a “healthy” or “moderate” improvement next year. Another 10% said they expect a “dramatic” improvement next year. No one interviewed thought the economy would remain the same or get worse, compared with 14% a year ago.

When asked about the projected sales by their own companies in the year ahead, 27% said sales would be up over 10%, 32% said sales would be up 5%-9% and 32% said sales would be moderate--in the 1% to 4% range.

Considering the uptick in sales and leasing activity, the managers also thought they would be doing more hiring next year. Thirty-six percent said they are planning to increase staffing by 5-10% next year, 32% projected a 1% to 4% increase, while 27% thought they were fully staffed.

Melinda Fulmer covers real estate for The Times. She can be reached at (714) 966-7832.