San Joaquin Valley Homes, based in Visalia, was top homebuilder in Kings County in 2020 with 82 homes permitted followed by Lennar with 54 and Woodside Homes with 17.
California Association of Realtors reports that statewide November existing home sales rose 5.0 percent from 484,510 in October and were up 26.3 percent from a year ago, when 402,880 homes were sold on an annualized basis. The year-over-year, double-digit sales gain was the fourth consecutive and the largest yearly gain since May 2009.
“Home-buying interest is at levels that we have not seen for years, setting the stage for a stronger-than-expected comeback that fully recovered all the sales that the market lost in the first half of the year due to the pandemic,” said 2021 C.A.R. President Dave Walsh.
In Kings County there was a decrease in home sales – down 11.5% year over year while the median price rose slightly to $265,00 from $258,00 a year earlier.
The latest number from the closely watched October S&P/Case-Shiller Home Price Index reported a 8.4% YoY increase for Los Angeles and 7.7% increase in SF.
If Kings County did not show the big price appreciation seen across urban areas of the state, Kings continued the trend of low population growth according to a December report from the state Dept of Finance. California grew by just 21,224 from July 2019 to July 2020 while Kings County grew by 1223. Many counties lost population led by LA County with 40,000 fewer residents. Nearby San Luis Obispo lost 1125.
Looking closer, King County actually lost population due to migration elsewhere but births offset that by increasing by 2196. Deaths numbered 928.
As for ‘sloooow’ growth, Kings County remains the poster child for the trend with the state reporting that the population here in 2010 was 152,982 while Kings County population in July 2019 was down by 42- 152,940!
Meanwhile, the Department of Homeland Security and the 2018-2019 American Community Survey indicate a significant decrease in the number of immigrants to California and an increase in people who reported moving out of California during the previous year.
Better news on the COVID front in the state’s prison system with new cases down to 7700 as of 12/30 compared to 10,700 as of 12/20. Meanwhile, Pleasant Valley Prison case numbers are down to 244 as of 12/28 compared to a scary 1229 as of 12/08/2020.
Hanford’s Central Valley Meat was fined $50,000 by Cal OSHA for not informing employees of possible exposure when coworkers were infected with COVID-19 and for failing to provide face coverings and ensure their proper use. Cal/OSHA opened a complaint-initiated inspection at the facility in Hanford on April 29 and identified violations in the employer’s training procedures and response to COVID-19 hazards. Citations were issued on December 11 with $50,000 in proposed penalties for two violations classified as serious. A new release said “Enforcement of COVID-19 protections at meatpacking and food processing facilities has been a priority of Cal/OSHA given the high rates of positive cases and alarming number of deaths among food processing workers,” said Cal/OSHA Chief Doug Parker. Besides Central Valley Meat, seven other California meat processing facilities were also cited for Covid-19 workplace violations.
The Lemoore campus of West Hills College will get a new 42,429-square-foot, two-story Instructional Center on an undeveloped portion of the existing campus in Hanford. The college has a current student enrollment of 4,600 students and the proposed expansion is anticipated to increase the overall student population by approximately five percent, or approximately 232 students. The building will be used to expand education opportunities in the areas of allied health services, computer science and graphic arts. Construction is expected to begin in January 2023 and end in April 2024. The board of the college will approve the project February 16.
More rain? Central California could get three snow producing storms in a row January 4,6 and 8th suggest forecast models.Keep you finger crossed and Happy New Year!