Industry News

Real estate construction plummets in California

Trade group reports 25% drop in permits from a year ago

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Total building permits issued for single-family homes in California were down about 25 percent in April compared to April 2005, while total permits for the first four months of the year were down about 18 percent compared to the first four months of 2005, the California Building Industry Association announced today. CBIA, a statewide trade association, represents about 6,600 businesses, including homebuilders, remodelers, subcontractors, architects, engineers, designers, and other industry professionals. Permits were pulled for 11,119 single-family homes statewide in April, down 0.2 percent from March, while housing starts for condo and apartment (multifamily) projects totaled 3,476, which was down 37.6 percent from the previous month. The number of building permits issued for multifamily projects was down 3.4 percent in April 2006 compared to April 2005, though the number of multifamily permits issued for the first four months of 2006 was up 12.2 percent compared to the first four m...