Fresno home builders constructed more than a 1000 fewer homes in 2014 compared to the same period in 2013.
According to Construction Monitor in 2014 Fresno County jurisdictions permitted 1276 new homes compared to 2303 homes in 2013 – a drop of around 55 percent.
Lennar was the county’s top builder in 2014 again but slowed their pace to 263 new dwellings compared to 410 during the same period in 2013.
The value of all homes permitted Fresno County in 2014 was over $474 million compared to $731 million in 2103.
Fresno’s busiest year was 2005 when about 3400 new homes were built.
By contrast Tulare County home builders stayed on pace in 2014 with 799 new homes through December 28 valued at $255 million.For the same period in 2013, some 804 new homes were permitted valued at $229 million.
Tulare’s top builder this year has been JJR Management with 98 homes valued at $12.8 million followed by Woodside Homes with 94 homes followed by last year’s leader Lennar with 77. In 2013 Lennar was top dog with 126 homes in Tulare County.
Home building has slowed across the nation in 2014 with a combination of higher home prices and flat incomes reducing affordability and restraining buying.
DQ News says the median price of new homes in Fresno has dropped 4% year over year from $290,000 to $279,000. Existing homes sold at a median price of $191,000 up from $190,000 in November 2013.