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64% <br />18%18% <br />■ <br />Government -backed <br />Source: HMDA, 2020 <br />Table C-12: Total Home Loan Applications <br />Type <br />Total Applications <br />Government -backed <br />11 <br />Conventional <br />883 <br />Refinancing <br />5,591 <br />Home Improvement <br />183 <br />5+ Units <br />3 <br />Non -occupant <br />307 <br />Source: HMDA, 2020 <br />Figure C-1: Home Loan Application Disposition <br />100% <br />78% 73% <br />56% <br />17% 21% 23%20% <br />5%6% IN <br />0% 0% <br />Conventional Refinancings Home Improvement 5+ Units <br />■ % Approved ■ % Denied % Withdrawn or Incomplete <br />C.3.4 Market Constraints Summary <br />67% <br />21% <br />12% <br />Non -occupant <br />Economic conditions in Pleasanton reflect a competitive housing market. Residential <br />developments can garner higher home sale prices and rental rates than across the ABAG region. <br />As such, Pleasanton has market conditions that favor the development of both for -sale and for - <br />rent housing. Due to high housing demand, however, Pleasanton is generally built out, so future <br />housing development will be constrained by existing development or require demolishing existing <br />structures, improvements, and uses. The lack of available vacant land may constrain housing <br />production due to the increased costs associated with redevelopment. <br />C.3.5 Community Resistance to Housing <br />Another constraint to housing production in the Bay Area is community resistance to new <br />developments. There are various concerns often expressed, including new housing <br />developments will cause increased traffic, place a burden on other infrastructure (e.g., water <br />supply, schools, etc.), adversely affect community character, and result in loss of valuable open <br />space. Regardless of the factual basis of the concern, vociferous opposition can slow or stop <br />development. <br />C-36 I City of Pleasanton Housing Constraints <br />