Construction
After a significant downturn during the recession, the construction industry in Sonoma County continues to rebound with 54% job growth from 2012 to 2021. Economic Modeling, LLC (EMSI) predicts that jobs in Sonoma County’s construction industry will continue to grow by 11% between 2021 and 2031. Average earnings per job in Sonoma County’s construction industry are $81,138 (EMSI, 2021).
Key Business
Real Estate
Both the Sonoma County and national housing markets are proving to be resilient despite the pandemic’s effects on the labor market. Home prices in Sonoma County are increasing at a roaring pace and demand remains sturdy. Even with the robust price appreciation, the number of homes sold in the last six months is greater than that of a year ago; January 2021 home sales are up 30% form the same month in 2020. Furthermore, the number of days a home stays on the market has dropped to its lowest level since early 2018. 2021 Industry Insider Finance, Real Estate, & Creative Industries Report (PDF).