The September 2015 edition of the State Board of Equalization’s Economic Perspective is now available. Of particular note, BOE research staff found that:
- Residential construction activity is not yet back to pre-recession levels.
- Nonresidential construction is back to pre-recession levels.
While residential construction across the state has not reached pre-recession peaks, construction in Orange, Riverside, San Diego, and San Bernardino counties ranks in the top 10 for all counties. In particular, Irvine and San Diego have seen strong residential construction growth at the city level.
These counties also make rank in the top ten for nonresidential construction lending more evidence that Southern California is truly the economic engine that drives the state
A full report of construction trends is published in the BOE’s September 2015 Economic Perspective Newsletter.