Tuolumne County, California is a good place for a home building company right now as the area recorded higher house construction activities in the past 10 months. Although house building in the area is still way below the level experienced during the housing industry boom, the number of activities is still better than year-ago levels.
Home data showed the county issuing building permits for 1,131 projects for the period January 1-November 16, 2010. The projects are estimated to have a collective value of $34 million, with 45 of the permits issued for single family dwellings that have a construction value of $8.4 million. Housing market analysts have stated that permits for the construction of single family dwellings give a reliable estimate of the building industry's condition.
Data for the permits included big projects like commercial construction projects and renovation of commercial structures and small initiatives like installations of water heaters and home improvement-related efforts. The current year's home building company permits are considered an improvement from 2009 when the full year total was at 1,025. Out of this number, 49 were issued for the construction of single family dwellings.
The Tuolumne County Economic Development Authority has reported that it is not only residential construction that has improved in the area but also commercial property building. Renovations are also rising among a number of commercial properties, including projects involving Taco Bell, Subway and Grocery Outlet. In addition, a store is reportedly being planned for the Mervyn's building located at the Sonora Crossroads complex. The project is expected to bring building permit totals even higher.
According to local officials, the increase signals an improvement in the building sector of the county, although they did admit that the area still has some ways to go in terms of recovering from the market slump caused by the huge supplies of foreclosures. They added that construction activities have risen primarily because developers are taking advantage of low costs.
Since fewer construction projects are available, a local home building company is usually forced to lower its bid, thereby providing a lot of incentives for developers to take the plunge. Local officials have also reported that the construction activity figure might even be higher if small projects that have not notified the county are to be counted.