Strong economy forecast for the Antelope Valley Region

Housing and defense spending are showing signs of slowing nationwide. However, the local economy here in the Antelope Valley is still looking good according to the Antelope Valley Board of Trade's Business Outlook conference. Many people continue to move into the AV, spurring the need for more housing and services.

Nationwide, in general, house prices have reached their maximum and are beginning to stabilize and housing starts are beginning to drop. Locally, the AV remains affordable and that affordability is a major selling factor with homebuyers. Houses in the High Desert usually sell for half the price of those in metropolitan Los Angeles and surrounding areas of LA County, so that makes the Antelope Valley one of the most affordable communities in Southern California at this moment.

The number of home sales in the AV increased by 6% in 2005, when compared with 2004. New construction sales in both Palmdale and Lancaster grew by 52% over the same time frame.

Industrial development in the region also continues to move along at a strong pace. 650,000 square feet of industrial space is being developed in Lancaster. 550,000 square feet of industrial space has been approved for construction in Palmdale.

Retail sales rose to $3.7 billion in 2005.

The AV is also a major contributor to the film industry, which saw a multi million dollar increase in business in 2005 over previous years.


Sandee Conley
www.real-estate-palmdale.com