- Riverside County placed ninth among top U.S. counties with at least 1 million residents with 2.11% population growth to 2.47 million people between 2020 and 2022.
- California's other major counties, including Los Angeles, Orange, and San Francisco, all saw population declines during the same time period.
US Industrial Real Estate Market Sees Record Increase in Vacant Supply
- The US industrial real estate market added 89 million square feet of vacant supply in Q1 2021, the largest quarter-over-quarter increase on record, as speculative construction delivered.
- This led to an overall vacancy rate increase for the first time since Q2 2009, with the rate reaching 3.5%, still below the 10-year average of 5.0%.
Related:
Commercial Real Estate Lending Drops 56% in Q1 2023 Amid Financial Market Uncertainty (Source)
Southern California's Best Development Opportunities May Be Hidden in Plain Sight, Says Expert Panel"
- An expert panel of executives from Los Angeles development companies and brokerages have identified the best development opportunities in Southern California
- California's LA County offers the best opportunities, with residential, retail and office projects at the forefront, according to Skanska USA's EVP Clare De Briere, who also advised focusing on buildings that provide the best environment for people who will occupy them.
Analysts at Berenberg boost homebuilder optimism, predict industry improvements
- Sales rates have improved, supporting pricing and forecasting modest build cost deflation for 2024
- Affordability has risen, with mortgage payments at approximately 40% of new homebuyers' earnings, while lower land prices and government support measures for new-build housing are expected to drive industry growth over time.
Related:
Lumber Prices at Record Low - Possible Signal of Housing Market Decline (Source)
California lifts some drought restrictions, but experts urge continued conservation
- Governor Newsom rolls back some drought restrictions following wet winter season
- Water agencies in Coachella Valley lift 15% voluntary water conservation target, but officials warn that conservation should remain a way of life given California's history of drought.
Studies show significant declines in methane emissions near Los Angeles
- Two studies conducted by NASAs Jet Propulsion Laboratory in Southern California measured drops in human-caused emissions of methane in the Los Angeles region
- Ground-based sensors and airborne instruments were used to measure a 7% reduction in emissions from four Southern California counties and a 73% drop in emissions from a belt of oil refineries in the South Bay area of Los Angeles during the first summer of the COVID-19 pandemic.
