Industry News

California housing starts fall 10%

Builder's group forecasts bright spot in second quarter

California housing production dropped about 10 percent from January 2005 to January 2006, the California Building Industry Association announced today. According to data compiled by the Construction Industry Research Board, housing starts (as measured by building permits issued) totaled 12,357 in January – a decrease of 1,430 units compared to January 2005. The total includes 9,036 single-family homes (down 10.4 percent from January 2005) and 3,321 apartments and condominiums (also down 10.4 percent from January 2005). The research board is a nonprofit research center that provides statistical information on the California building and construction industry. Overall, starts were down 8 percent from the previous month of December. Single-family starts dropped 6.8 percent and multifamily starts dropped 11.1 percent. CBIA Chief Economist Alan Nevin said that construction is expected to pick up in the second quarter of the year. He also noted that production for 2006 is only slight...

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