New homes going up at a faster pace
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From Times wire reports
New-home buyers in all Southern California counties except Ventura committed to purchases at a brisk pace in the first quarter. New home construction commitments rose 26.4% in the region from the same period last year, according to the Meyers Group in Costa Mesa.
Growth restrictions impeded new home construction in Ventura County, where commitments plummeted 55.3% in the first quarter from a year ago.
But in Los Angeles County, commitments to build new residences were up 6.9%; Orange County, 20%; Riverside and San Bernardino counties, 29.4%; and San Diego County, 58.3%, according to Meyers Group, a new-home real estate information and consulting services company.