The state trade association for the real estate industry has forecast a 5.8 percent increase in 2015 for existing home sales across California, but stopped short of making regional predictions.

With the market as bifurcated as it is across the state, it may be a good call.

Economists, though, are already beginning to weigh in with their regional predictions.

Here’s what Beacon Economics had to say: The median price for a single-family home in Riverside and San Bernardino counties went up 16.5 percent in the second quarter of 2014, compared to the same quarter in 2013.

Yet, the region’s “comparative affordability” will continue to attract buyers who feel they are priced-out of opportunities on the coast.

Here, Beacon predicts home prices will grow at an average annual rate of 8.4 percent from the second quarter through the end of 2020.

Affordability is becoming a home-buying issue once again across the state, but Beacon founder and partner Christopher Thornberg said he’s paying even closer attention to the region’s shrinking labor force.

Over the past years, the labor force has declined by 0.4 percent, most likely because the population is getting older. From 2008 to 2013, the population of people who were 65 or older rose 22.3 percent. At the same time, the population of people in their prime for work grew by only 3.7 percent.

“This imbalance has the potential to increase as more baby boomers retire,” the Beacon Economics report said.

BIA SHOW

The 2014 Building Industry Show is coming to the Riverside Convention Center on Nov. 5, and is back to its two-day format.

The Building Industry Association of Southern California show will include a “farmers market” type of trade show, and a new “Cool Products” awards program to recognize innovative exhibitors. It offers a “Meet the Builder” opportunity for BIA-members, a Builder Luncheon and workshops on hot-button topics from water conservation to big bank project funding.

For more information and a full schedule of the two-day event visit buildingindustryshow.com

Contact the writer: 951-368-9423 or dgruszecki@pe.com