Industry News

California housing production drops in ’06

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Housing production in California fell for the second year in a row in 2006, the California Building Industry Association announced today, dropping 22 percent compared to 2005. New single-family housing units, measured by building permits issued in California metro areas, dropped from 155,322 in 2005 to 106,953 in 2006, according to preliminary year-end data compiled by the Construction Industry Research Board, an industry research center, while new condo and apartment units increased 5.3 percent compared to 2005. In December, single-family housing starts dropped 44 percent compared to December 2005 and fell 12 percent compared to November 2006. Meanwhile, multifamily starts -- which the association notes can be "very volatile from month to month" -- rose 38 percent compared to December 2005 and 41 percent compared to November 2006. Single-family housing starts dropped in every metro area tracked in California in 2006 compared to 2005, dropping 55.6 percent in the Yuba City-Maryvil...