West Riverside County Future Housing Supply Greatest in Perris and Sun City
West Riverside County, California- West Riverside proposed development is made up of 224,088 new residential units in 1,529 developments. These projects range in status from those with no approvals to those with recorded final maps and under construction. Combining detached and attached supply, the Perris and Sun City area will provide the most future housing inventory throughout the region, 49 percent, followed by the Hemet and San Jacinto area, providing 40 percent.
According to Marketpointe Realty Advisors LandTracker publication, there are 33,270 attached proposed development units in West Riverside. Of these units, the Hemet/San Jacinto area leads future attached supply, having the largest share at 24 percent, followed by Perris/Sun City at 18 percent, Riverside/Moreno Valley and Lake Elsinore with 14 percent, while Temecula/Murrieta holds 12 percent of the entitled units. The Banning/Beaumont area has 10 percent, with Corona/Norco (8 percent) rounding out the region.
Proposed detached units in West Riverside total 171,108 homes in 1,298 projects with nearly one-third located in Perris/Sun City. The remaining 69 percent of the region is fairly well distributed between Banning/Beaumont with 19 percent, Hemet/ San Jacinto with 16 percent, Temecula/Murrieta with 11 percent, Riverside/Moreno Valley 10 percent, Lake Elsinore 7 percent and Corona/Norco holding the final 6 percent.
The remaining new residential units fall into the categories of apartments and projects in their infancy, still undetermined. This most recent audit provides insight to the future proposed supply for West Riverside County.
MarketPointe Realty Advisors Land Tracker is a quarterly comprehensive publication with detailed proposed development activity throughout Southern California. MarketPointe Realty Advisors provides new home and available land information and real estate consulting services. The offices are located in San Diego and Orange County, with representation throughout California. Phone San Diego at 619-233-3781, Orange County at 714-528-2554, url:www.marketpointe.com/land_tracker.shtml.
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