CVAR’s COVID-19 Resources REALTORS®: Updates & Guidelines What’s Happening at CVAR under COVID-19 restrictions Latest COVID-19 Updates from C.A.R. Citrus Valley Association of REALTORS® is conducting all business remotely. Meetings and classes presented by CVAR will be online and free of charge (see available classes below). ____________ REALTOR® Safety Day Sept. 11 Click to View […]
Building Exceeds Expectations
Housing starts and permits shattered expectations in July, both hitting recent highs for residential construction. According to the U.S. Census Bureau and the Department of Housing and Urban Development, starts spiked 22.6% from the revised June estimate — the largest month-over-month gain since October 2016. That annualized pace is up 23.4% from July 2019, and […]
Builder Confidence Surges
Few thought the housing market would see this quick a turnaround in homebuyer demand. The COVID-19 pandemic dragged down the spring buying season as states and cities issued stay-at-home orders. But despite the lingering pandemic and subsequent economic recession, homebuilders are upbeat on housing heading into summer. Builder sentiment surged 21 points in June, the […]
Feb. 18 CVAR At a Glance
Featured Classes & Events Announcing REvive Celebrity Spotlight! Real Estate REvive Conference & Expo is Coming March 19 at Victoria Gardens Feb. 19 | Residential Listing & BRE Agreements Feb. 20 | Mortgage 101 – Rancho Cucamonga Feb. 21 | Ethics Training – All Locations – Free Feb. 24 | CRMLS Training – CVAR West (So. El […]
IE Construction Sinks, LA Rises
The decline in construction jobs for Inland Empire workers last year was one of the steepest in the nation, according to one study. There were 2,600 fewer construction jobs in Riverside and San Bernardino counties in 2019, a 3% decline, the Associated General Contractors of America reported. It was the third-highest loss among 358 metropolitan […]
CA’s Failing Grade for Permits
California needs more housing, but 97% of cities and counties are failing to issue enough RHNA permits. In 2017, neighborhood leaders gathered in Long Beach to discuss a City Hall plan to address the city’s housing shortage. To increase the housing supply and stem skyrocketing residential costs, planners proposed multi-story apartment buildings line major streets and […]
Builder Optimism Growing Thanks to Falling Rates
The numbers: Home builders are gung-ho again thanks to dramatically lower mortgage rates. A survey of home-builder sentiment surged to a 20-month high of 71 in October from 68 in the prior month, the National Association of Home Builders reported earlier this month. Readings over 50 are a sign confidence is improving. Just 10 months ago, the […]
Why Homebuilders Are to Blame for Construction Decline
Southern California builders’ fixation on serving the luxury market — heavy with Chinese buyers — is now a drag on the industry. The year for local homebuilders started in the shadow of 2018 when construction slowed and unsold inventory grew to a near-seven-year high. Industry woes can’t be tied to common complaints such as regulatory […]
Could Robots Fill Labor Gaps in Construction?
Homebuilders have been pointing to a severe labor shortage of contractors that are prompting project delays and new-home prices to rise. Could they turn to robots to make up for the shortage of workers? Japan’s Advanced Industrial Science and Technology Institute is showing off a humanoid bot called HRP-5P that can complete several construction tasks, […]
Expect Construction to Take Strides This Year
The pace of new construction, which has been stagnant over the past few years, is ready to rev up. An estimated 1.26 million housing starts are expected this year, up 13.4 percent from last year, according to the National Association of Home Builders. Single-family production is estimated to reach 840,000 units, an 18 percent increase […]