Industry News

California single-family starts down 35% from last year

Merced, Madera see sharpest declines in building permits issued

Single-family housing starts in California have fallen about 35 percent for the first eight months of the year compared to the same period last year, as measured by building permits issued, the California Building Industry Association reported this week. Building permits issued for single-family units in the state dropped 34.6 percent in August 2007 compared to August 2006, according to data compiled by the Construction Industry Research Board, a nonprofit research center. Meanwhile, building permits issued for construction of multifamily units dropped 18.9 percent during the first eight months of the year compared to the same period last year, and building permits issued for multifamily construction in the state jumped 58.6 percent in August 2007 compared to August 2006. The number of single-family permits issued dropped most dramatically in the Merced area in California's Central Valley, falling 72.4 percent in August compared to August 2006 and falling 65.2 percent for the first eig...

Comments