Orange County home construction cut 22%, biggest drop in 6 years

Orange County homebuilders cut construction 22 percent at year’s end — the biggest drop in six years — as unsold inventory grew 26 percent.
Orange County builders had 2,334 homes under construction in the fourth quarter down 653 in a year or off 22 percent, according to MetroStudy. Elsewhere, Los Angeles County construction was down 5 percent and the Inland Empire was off 8 percent.
PS: Orange County’s homebuilding pace the past fours years equaled 87 percent of 2005-2008