N. California College of Construction News Blog

See the Difference a Small College can Make!

May 11,2012

Posted by nahetsblog on May 10, 2012

Riverside CA is now in the top five areas in the country with the highest percentage of construction employment,according to the N.L.P. with the current construction and permits that have been approved but not started the unemployment rate of heavy equipment operators should be below five percent for the remainder of 2012 and all of 2013.Out of the largest 337 metropolitan areas CA has two in the top six for construction employment,

Home prices are finally beginning to rise,the nation has fewer homes for sale and that is driving the prices up especially in the areas where the supplies were low to begin with.The number of houses for sale at the end of April was 22 percent lower than at the end of April 2011. The National Association of Realtors reported that that figure was 41 % lower than the peak of mid 2007.First quarter home sales were up 5.8% from a year ago,but keep in mind the first quarter of 2011 was terrible. NAR says that median price rose in 74 of 146 largest markets in the country,but the foreclosures that are hurting the median price is not going to go down any time soon,in fact, foreclosures may go up now that the mortgage brokers have made their 25 billion dollar settlement with the federal and states.

If and when the number of foreclosures goes back to the 2005 % the median price of the single family dwelling will start to steadily climb back to where it was before the bubble burst,most experts feel that by the end of 2012 that the number of foreclosed homes will go back to the prebubble rate. Then the contractors that build new houses wont have to worry about the foreclosed houses driving the price down to below cost. When the general contractors go back to building singe family dwellings,all of the construction employment will see a increase,the heavy equipment schools that have been slow will see an increase in the number of students who will need to get the proper heavy equipment training , Ca has hot and cold spots from one end to the other,but when the single family dwellings are in demand the number of cold spots will dwindle and the number of hot spots will soar.

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