According to a recently-released report on area construction, 2018 leads 2017 in the number of permits filed to build residences. Compared to the same period last year, requests for construction permits doubled.
According to the Real Estate Research Council of Southern California, 1,878 permits were issued for multi-family units in San Diego. This is the second-highest number in the area, but still well behind the 3,628 issued in Los Angeles.
Construction is governed by many factors including the permitting process, weather, and labor availability, and one good quarter doesn't necessarily mean the trend will continue. However, Alan Gin, an economist at the University of San Diego, said he is hopeful that this year will be better than last. The trend is being driven by the construction of apartments, rather than single-family homes. In San Diego County in 2018, over 2,000 units have opened, or are almost ready for occupancy, spearheaded by construction in the downtown neighborhoods of East Village and Little Italy.
There's also been an increase in the permits issued for single-family homes: 929 were issued, up by 57 percent from last year at the same time. Although this is a good indicator for San Diego, the county lags behind others in Southern California.
Developers of both apartments and single-family homes need to find occupants, so they might work with a brochure printing company to create a booklet showing the amenities of the new construction.
