Hemet/San Jacinto and Perris/Sun City Communities Rank Highest in West Riverside County Future Housing Supply
West Riverside County, California, January 29, 2008-The most recent audit of our LandTracker publication provides insight to the future proposed supply for West Riverside County. The following graphs show attached and detached proposed supply by submarket. Apartment units usually have underlying condominium maps and can be developed as for-sale condominiums, but their totals were not incorporated in the following graphs.
West Riverside’s proposed development is made up of 232,333 new residential units in 1,545 developments. These projects range in status from those with no approvals to those with recorded final maps and under construction.
Of the 40,580 attached units, Hemet/San Jacinto has the largest share at 23 percent, followed by Banning/Beaumont at 17 percent. Perris/Sun City has 15 percent, and is followed by Riverside/Moreno Valley at 14 percent, Lake Elsinore at 12 percent, Temecula/Murrieta at 11 percent, and Corona/Norco at 8 percent.
Proposed detached units total 172,049 homes in 1,298 projects with nearly one-third located in Perris/Sun City. The remaining 68 percent of the region is fairly well distributed between Banning/Beaumont with 19 percent, Hemet/ San Jacinto with 17 percent, Temecula/Murrieta with 11 percent, Riverside/Moreno Valley 9 percent, Lake Elsinore 6 percent and Corona/Norco holding the final 6 percent.
MarketPointe Realty Advisors LandTracker is a 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. Phone San Diego at 619-233-3781, Orange County at 714-528-2554, Sacramento at 916-710-1398, url:www.marketpointe.com/land_tracker.shtml.
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