Skip to main content

California Population Outpaces Home Construction Rates

Phil Hall
May 02, 2017
California’s housing construction activity was up in 2016, but it failed to keep pace with the state’s population

California’s housing construction activity was up in 2016, but it failed to keep pace with the state’s population.
 
The Los Angeles Times, using California Department of Finance data, reported that the state’s housing stock grew by 88,562 units last year as the population expanded by 334,578 residents—a ratio of one new home for every 3.78 new residents. California’s population reached 39.5 million last year.
 
Within Los Angeles and Orange counties, the balance between construction and population growth was better measured: Los Angeles County added one housing unit for every 2.52 new residents, while the Orange County rate was 2.79. This is a significant improvement since 2010, when Los Angeles County has added one new housing unit for every 4.99 new residents while Orange County added a unit for every 5.26 new residents. But new that’s not to say the new homes were affordable: as of February, home prices across the two counties saw a 5.11 percent year-over-year increase, according to the Case-Shiller index. 

 
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021
Mortgage Lenders Expect Profit Margins To Shrink

69% of lenders believe profit margins will decrease in the months ahead, while 19% believe profits will remain the same, and 11% believe profits will increase.

Industry News
Jun 14, 2021
Real Estate Industry Calls To End Eviction Moratorium On June 30, 2021

Expanding the moratorium will only increase levels of debt on renter households and impede the recovery of the housing sector.

Industry News
Jun 14, 2021