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Construction activity in San Diego has taken a dip this year, with the commercial and infrastructure sectors seeing the biggest declines in overall volume of work.
U.S. Construction Market | Market Snapshot Q2 - 2021. After a slow start to the first quarter, San Diego’s construction market is beginning to rebound. Renewed interest in the residential sector (which makes up almost 60% of all construction) is expected to push the market out of the slump that was exacerbated by the pandemic.
Unemployment has generally been trending down, albeit with a few hiccups along the way. Concerns about the Delta variant have led the public to be more cautious, even with the ongoing success of the vaccine rollout. Construction employment has generally recovered, although it remains volatile.
Today, the residential sector makes up more than half of all construction volume in the city, with multifamily projects making up a larger and larger share each year. This trend is expected to continue. Total Construction Market Volume by Sector (x $1m, Nominalized 2012$) Regional Construction Employment.
thriving life-sciences sector, the construction market here is set to grow through at least 2025. The Residential sector is still the largest here, as San Diego is – like all of California – in a severe housing shortage. It is currently estimated that the . area needs to double housing construction in order to accommodate all its . residents.
Total Construction Market Volume by Sector (x $1m, Nominalized 2012$) Annual Volume (x$1M, 2012$) The city is in serious need of new housing, and the residential sector makes up more than half of all new construction.
13 Ιουλ 2022 · The City Planning Dept reported 85% of New Residential Construction was for Above Moderate Income in the last RHNA 8-yr cycle, as well. This is a SYSTEMIC failure of relying upon the market to supply the housing needed.
