Industry News

California real estate construction rebounds

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Lead by a sharp increase in new-home construction in Riverside County, California housing starts showed a sizeable increase in September compared to the previous month and year-ago levels, the California Building Industry Association announced Thursday. A total of 20,952 building permits for new homes and apartments were issued in September statewide, up 21.3 percent from August and up 20.9 percent from September 2004, according to figures compiled by Burbank, Calif.-based Construction Industry Research Board. In Riverside County – by far the state's leading growth area – housing starts doubled in September to 4,140 new homes and apartments, compared with 2,049 in August. That accounts for nearly 56 percent of the statewide increase from August to September of 3,680. Local CBIA officials attributed most of the increase to continued strong demand for new homes, builders continuing to catch up from weather delays earlier this year and the fact that the workforce is fi...