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Visalia home builders slow pace In 2017

January 3,2018-

San Joaquin Valley Homes

San Joaquin Valley Homes

The number of new homes built in Visalia in 2017 declined 16% from the year before – from 575 units in 2016 to 483. They also built fewer multi-family units – 70 vs 130 as well as 33% fewer commercial projects that added up to a 60% drop in valuation year-over-year.

The average cost of a new dwelling in Visalia is $239,341,down from $272,297 in 2016.

The pace of new home building in Visalia has averaged around 500 homes a year for 4 years-running.

The total value of permits declined 16% in the city to $232.6 million in 2017, according to the City of Visalia.

Looking at countywide numbers, the total value of all permits in Tulare County fell from $691 million in 2016 to $569 million in 2017. Commercial construction valuation dropped the most- from $314 million to $200 million.Figures are from Construction Monitor.

Within this category the biggest drop was in commercial solar projects dropping from 102 at $118 million to 77 projects valued at $48 million.

Rooftop solar also declined from 3116 permits issued to 2379 in 2017.

Top home builder in the county in 2017 was San Joaquin Valley Homes with 276 units followed by Woodside with 126, DR Horton with 167, Lennar with 77, Wathen Castanos with 92 and Smee Builders with 86.

 

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