Third quarter construction lending in Sonoma County was up 85 percent from
the same period last year, led by a steady increase in the construction of
homes, according to a recent report.
Construction loans in the three months ending Sept. 30 totaled $74
million, according to Dataquick Information Systems, which monitors real
estate purchasing and financing in California and several other states.
That was up from $44 million in the second quarter and $40 million in the
third quarter of 1993.
In the nine Bay Area counties, the only counties where loans surged more
than Sonoma were San Francisco at 154 percent and Solano at 111 percent. The
average in the Bay Area was 18 percent.
Statewide, construction lending had its strongest quarter in more than two
years, up 35 percent from the same period in 1993.
The numbers include all construction loans, commercial as well as
residential. A construction loan is typically recorded a few days before
construction actually begins.
— Mary Fricker
