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HOMEBUILDING INDUSTRY ENDS 2016 ON A HIGH

ROSEVILLE - The North State BIA issued its year-ending 2016 New Home Sales Report, which showed the regional homebuilding industry recorded 4,208 sales over the last 12 months - this represents an increase of nearly 900 new homes sales over 2015's total of 3,309.

"Our industry is extremely pleased with the significant uptick in year over year sales," said Michael Strech, President and CEO of the North State BIA. "From a broader perspective, we're also pleased to have closed out our best sales year since 2007. There is certainly a great deal of optimism from within our industry and a strong feeling that 2017 will be even better. Across a number of industries, the greater Sacramento region is on a major upswing and our industry is excited to be a part of that."
New Home Sales Continue to Increase Year Over Year
This year saw the home building industry sell 4,208 new homes throughout the region. That tally is 899 more sales than 2015 and 1,767 more sales than 2014. All told 2016 added up to the most prolific sales year for the industry in nine years.
Monthly Sales Average Climbing
As the chart below indicates, the average number of new homes sold dropped from its high point of a decade ago, but has gradually risen, culminating with this year's monthly average of 351 sales per month.
More Communities Reporting Sales
The number of communities reporting sales is a real world barometer of the economic health of the homebuilding industry. This year's monthly average of 125 communities reporting is the highest such number since 2008's average of 185 communities.
Traffic
As expected the year's higher sales numbers coincided with higher traffic numbers as well. In total, 154,368 consumers visited new home communities throughout the region.
New Home Sales by Region  
The North State BIA's monthly New Home Sales Report is compiled through a collaborative effort between association staff and homebuilders, who provide weekly reports based on escrow closings. The chart below breaks down regional sales for 2016.
Price Point Data
As part of its monthly sales analysis, the North State BIA also records the price points for new homes sold. The total 2016 price points for new home sales can be seen in the chart below. 
BIA Data Note
The North State BIA's sales figures represent the majority of production homebuilders in the greater Sacramento region.

Regional Permit Data
The California Homebuilding Foundation's (CHF) Construction Industry Research Board (CIRB) regional permit data for 2016 can be viewed here.

Permit totals are subject to change due to post-reported County/City activity and/or post-adjusted data submitted to CIRB by the reporting municipality. CIRB statistics are formally published at the end of the month in the California Construction Review (CCR) report. Please contact (916) 340-3346 or [email protected] for additional information.
North State BIA

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