In response to falling prices and competition from foreclosure, home building activity 2011 dropped to an all-time low in the Interior of Southern California, according to a report released Wednesday by an industry association in California buildings.
Statewide, marked the third year of 2011 the lowest on record for the overall housing production. The record low single family home construction volume is only slightly offset by an increase in the construction of homes, mainly apartments, said analysts who reflect the increasing difficulty in qualifying for a mortgage, a weak economy and the loss of consumer confidence.
In contrast, the volume of homes, including apartments, condos and Townhouses were built last year increased in Riverside and San Bernardino is a little more than 26 percent to 1,482 units, the majority assumed rentals.