Industry News

California building permits jump in August

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California home production continued at a near-record pace in August as both single-family and multifamily construction showed strong increases over July and over August 2003, the California Building Industry Association reported Tuesday. Housing starts as measured by building permits issued totaled 18,564 in August, a jump of 12.8 percent from July and 16.8 percent from August 2003. Single-family construction posted strong monthly and year-over-year gains, with permits totaling 13,106, a 5.1 percent increase over last month and 12.4 percent increase over August of last year. After slowing in July, multifamily construction rebounded sharply in August, with permits totaling 5,458, up 37.1 percent from July and 24.2 percent over August 2003, according to the Construction Industry Research Board. For the first eight months of 2004, total housing starts as measured by permits issued totaled 139,932, up 6.7 percent from the prior year. During that time period, 16 of the state's 28 me...