2017: The Year of More Construction Improvements for California

Construction in California appears to be on the increase for 2017! This good news comes based on an analysis performed by the Labor Department comparing past year construction projects and jobs with the newest data offered through 2016. California was one of the top in construction job increases by having added more than 41,000 jobs in 2016. This was a 5.9 percent increase from the year before.

“In nearly every state, contractors are busier now than a year ago,” said Ken Simonson, chief economist for the Associated General Contractors of America.

California city centers like San Francisco and Los Angeles seem to be booming with new construction activity. “We are personally seeing the added activity in both commercial and residential projects here locally in Southern California and a lot more calls than usual from those seeking construction loans,” says Ron Morillo of RMC Funding Financial Services. He adds, “we’ve been receiving many more requests for information about our multi-family home loans especially in the Los Angeles area.” Multi-family housing includes those building or remodeling apartments, condos, duplexes or any property where more than one family will reside.

With the industry in a seeming rebound for 2016 also comes the need for better funding and good solid backing for these types of construction projects. Ask us how we can help!