Washington Mutual Inc.'s buildup in California over the past two years couldn't have come at a better time.

Revised data on the growth of jobs in California last year shows that the state's economy in 1997 was even stronger than had been thought. That's good news for California's housing market, where prices statewide increased last year for the first time since 1991.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.