If you're currently in the market for a state - of - the - art new home here in San Bernardino County, you are probably aware that most of the latest housing news has been uniformly positive. San Bernardino County homebuilders still offer the most affordable new homes in Southern California and home prices are beginning to tick upwards, which indicates housing prices have finally stabilized.

More evidence that our housing market is bouncing back came in June when the Conference Board's Index of Leading Economic Indicators rose more than expected and reports from leading industry tracking firms show home construction surged.

Good news came our way when our region's leading tracking firm reported nearly one - third of all of the permits issued in the Baldy View Region were for multi - family (apartment home, town home and condominium) communities.

This is very good news because it means that homebuilders now are providing a greater diversity of new home opportunities for potential homebuyers.

Building more multi - family homes means more opportunities for homebuyers and greater benefits for our economy and local governments as well. Last month, the National Association of Home Builders (NAHB) released a report designed to enable city and county leaders to measure the positive impact of new multifamily community building. The report found that during its first year of construction a typical 100-unit apartment home community will generate around $7.9 million in local business owners' income, wages and salaries; 122 jobs and $827,000 in taxes and other revenue. After a community is finished and occupied, it should generate an additional $2.3 million in local income, 32 local jobs and $395,000 in taxes and other revenue for local governments.

A similarly - sized condominium ('condo') or town home community would do even more by generating around $20.9 million in owners' income and local wages and salaries, $2.2 million in public revenue and 319 jobs. Upon completion, the additional annually recurring impacts would include around $2.9 million in local income, 49 local jobs and $705,000 in taxes and other revenue for local governments.

Today's multi - family community builders offer the widest array of home owning opportunities for today's homebuyer because - while traditional families represent a large segment of the home buying market - extended and non - traditional families join an emerging population of retirees, 'empty nesters' and young professionals starting on their career paths in requiring different housing opportunities. So, if you are part of these emerging populations, a new, state - of - the - art town home or condominium might be the right choice for you.

Notice that in any major town or city, communities of condos or town homes are located closer to major thoroughfares and commercial and retail centers than single-family communities. That is because multi-family housing plays a vital role in a community's economic health by allowing both young people entering the workforce and older residents leaving the workforce to be conveniently located near shopping, mass transit, medical facilities and job centers.

Town homes and condos offer convenience with the added benefits of homeownership. For example, you may want to consider purchasing a condo if you are a first time homebuyer, retiring or an 'empty nester' who now has more space than they need. Since we are experiencing historically low mortgage interest rates, first time homebuyers often find that condos or town homes make purchasing their first home more financially attractive and more feasible than they anticipated to put them a step closer towards a more substantial residence later. For young professionals, a condo or town home can be the first step on an ownership ladder as well as a good stand-alone investment.

According to the National Association of Realtors, condominiums in many areas often increase in value faster than single-family homes.

Because the Inland Empire is host to one of the most diverse educational complexes in California, many families are finding that it makes financial sense for them to purchase a condo in our many university communities as an investment - one that can be used by their child during his or her college career, then rented or resold after graduation.

A new generation of retiring Baby Boomers and 'empty nesters' find condominiums or town homes offer more convenience because many everyday landscape or maintenance activities are no longer necessary and often covered by owners' associations. In addition, multi - family communities often feature value - added amenities and services, especially in communities hoping to attract those buyers interested in smaller, more convenient and more luxurious living spaces.

For more information about town home or condominiums communities, visit the National Association of Home Builders online at www.nahb.org/multifamily.

A town home or a condo might be just the right American Dream for you.

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