According to both DataQuick and the California Assn. of Realtors, the County's median home sale price remained at $150,000 in October -- the fifth month of rising or unchanged median sale price.
In October, 358 residential building permits were issued, compared to 302 issued in September. Of those, 135 were single-family residences (SFRs) and 223 were multi-family units. SFR activities were mostly concentrated in four defined areas: Rancho Cucamonga (62), Fontana (25), Victorville (13), and unincorporated areas (11). All multi-family activities were in Rancho Cucamonga.
Just like in September, there were no commercial office, industrial, and retail building permits issued in October. This is the third time this year that we saw a triple "0". For commercial office, this is the 5th consecutive month of no activity. For the past 14 months, there were 10 months in which there were no commercial office building permits issued. With the large inventory of default or near-default commercial properties out there, financing for new construction is almost non-existent. Industry experts do not expect a recovery in the immediate future.
In October, 358 residential building permits were issued, compared to 302 issued in September. Of those, 135 were single-family residences (SFRs) and 223 were multi-family units. SFR activities were mostly concentrated in four defined areas: Rancho Cucamonga (62), Fontana (25), Victorville (13), and unincorporated areas (11). All multi-family activities were in Rancho Cucamonga.
Just like in September, there were no commercial office, industrial, and retail building permits issued in October. This is the third time this year that we saw a triple "0". For commercial office, this is the 5th consecutive month of no activity. For the past 14 months, there were 10 months in which there were no commercial office building permits issued. With the large inventory of default or near-default commercial properties out there, financing for new construction is almost non-existent. Industry experts do not expect a recovery in the immediate future.
