California’s booming residential construction industry is on a tear, with more than 3,000 new residential buildings constructed every day, according to the latest count.
The new buildings come as construction companies are pushing to build more homes, while more and more homeowners are seeking to keep their properties and make money in a world where construction jobs are scarce.
The state’s residential construction boom continues to thrive despite a $500 million cut in state aid that was approved last month by Gov.
Jerry Brown, according the Associated Press.
The latest count showed 1,072 residential projects in the state, including projects completed in February.
That’s up more than 9 percent from the previous month, the AP said.
California has also experienced a surge in new homes being built in recent years, with nearly 1,000 completed in the first four months of this year, the news service said.
More:California is now home to more than 4,000 residential units.
More than half of those are in California’s southern San Francisco Bay Area, according AP.
California’s residential housing market is expected to grow nearly 12 percent in the next five years, according TOI’s latest forecast, a sign that construction will pick up steam once the state recovers from the severe drought, the agency said.