Industry News

Real estate construction posts gains in California

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

California home production continued at a near-record pace in September as both single-family and multifamily construction, while down a bit from the previous month, continued to show strong, year-over-year increases, the California Building Industry Association reported today. Housing starts as measured by building permits issued were down slightly in September compared to August but up significantly from September 2003. A total of 17,118 permits were issued in September, 6.7 percent less than the previous month but 15.6 percent more than September of last year. Single-family construction, once again, down from the previous month, continued the trend of strong year-over-year gains with permits issued totaling 12,450 in September, down 7 percent from the previous month but up a solid 9.7 percent from September 2003. Multifamily units totaled 4,668 in September, down 5.8 percent from August but up a resounding 34.8 percent from September 2003.  When adjusted for seasonalit...