September 1,2016-
New home construction is down in San Luis Obispo County during the first 8 months of 2016. Commercial building activity has also slowed according to Construction Monitor.
So far this year home builders have received permits to build 295 new single family homes compared to 695 during the first 8 months of 2015. Top builders are Shea Homes who build in the Nipomo area and Coastal Community Builders. In 2015 Shea had 75 new home permits and Coastal 73. But this year Shea has permits for only 19 homes and Coastal only 27.
Of the 295 new home permits issued only 16 are in the City of San Luis Obispo. Instead, new residences are being built in more rural areas like Templeton, Nipomo as well as Paso Robles.
On the commercial front there is clear slowdown to date with valuation at $103 million so far this year vs $301 million during the same period in 2015.