Industry News

Real estate building boom strikes California

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The California Building Industry Association announced Thursday that the number of permits issued for single-family homes in the state were up 19.8 percent from March 2003 to March 2004, and were up about 35 percent from February to March of this year. The statistics were collected by the Construction Industry Research Board, a nonprofit research center. In the first three months of the year, the number of single-family permits issued increased 6.4 percent over the number of permits issued in the first three months of 2003, the association reported. Significant growth in permit issuance in the first three months of 2004 over the first three months of 2003 was reported in the Bakersfield (up 18.1 percent), Los Angeles-Long Beach-Glendale (up 21 percent) and Stockton (up 14 percent) areas, with a major downward trend in single-family permit issuance in the San Diego-Carlsbad-San Marcos (down 12 percent) area. Multi-family permits, meanwhile, are down 13.2 percent in the first three mon...