A Northern California construction company will replace several aging bridges in Amboy, an unincorporated community west of Needles in San Bernardino County. Watsonville Construction has secured a $24 million contract with the county to remove the decaying structures on Route 66, according to a company statement released Oct. 9. The …
Read More »Homes for sale increases
New homes that went up for sale nationwide during the four weeks that ended October 5 rose 2.3 percent year-over-year, according to a recent report. That was the largest increase in more than three months, but it wasn’t enough to get people buying: pending sales dropped 1.3 percent from a …
Read More »Inland industrial market shows some backbone
The Inland Empire industrial market held steady during third quarter, posting increases in absorption and lease rates and maintaining its second quarter vacancy rate, according to data released Oct. 8. The region absorbed three million square feet of industrial space during the third quarter, a “strong rebound” from the second …
Read More »Menifee conducts park survey
Menifee is seeking public comment regarding the planned 10.4-acre Quail Valley Nature Park. The park, which will be developed in the Quail Valley community near Newport Drive, will include walking trails, interactive play areas, an exercise station, gathering spaces, nature-themed playground equipment, and a gravel parking lot, according to a statement …
Read More »Cancelled home sales rise
An estimated 56,000 home purchases were canceled nationwide in August, according to a report released Oct. 7. That was 15 percent of the homes that were under contract to change owners, up from 14.3 percent year-over-year, and the highest August cancellation rate since 2017, Seattle-based Redfin reported. “Home purchases are falling …
Read More »State’s economy hits a bump in the road
California’s economy is slowing down. Unemployment is rising, growth has cooled, housing is still too expensive and difficult to build, and energy prices are higher than in most parts of the country, according to Beacon Economics in Los Angeles. That’s not to say California is not relinquishing its status as …
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IE Business Daily Business news for the Inland Empire.