Report: Homebuilding to triple by 2012

Well, the Real Estate Research Council of Southern California (based at Cal Poly Pomona) has delivered its forecast for the industry, a forecast that calls for homebuilding in California to rise as much as 246% from last year’s record-low levels by 2012.

More specifically, the council predicts homebuilding to rise as much as 86% from last year’s levels, then increase another 86% in 2011.

That's a little more optimistic than forecasts provided by other groups, including the Construction Industry Research Board, the California Association of Realtors and the California Department of Finance. But let's hope its prophetic! 

Read the story in the Orange County Register

Photo credit: Brandon Doran