SACRAMENTO LEADS NORTHERN CALIF. IN NEW HOME CONSTRUCTION

New data from the state of Californiashows that Sacramento added the most new homes of any California city north of Los Angeles in 2018. The city’s builders added 2,400 new dwelling units last year, most of them single-family detached homes.
According to the Sacramento Bee’s Tony Bizjack and Michael Finch II, much of this growth took place in the Natomas community, located across the Sacramento River from downtown. City officials say that there are enough new housing projects in the construction pipeline to top last year’s numbers in 2019.
Sacramento housing analyst Greg Paquin said builders in the Sacramento region are reacting to population growth here, including from Bay Area refugees.
There is “a general feeling that the economy is sound, job growth is strong and more importantly, wages are rising,” Paquin said. “People are generally feeling optimistic and not necessarily worried about a recession this year or next. All of this together results in greater consumer confidence and a greater willingness to purchase a home and, more importantly, greater buying power.”

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