Industry News

California housing starts hit 25-year low in 2007

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

New-home construction in California dropped off dramatically in 2007, with single-family building permits falling 37.1 percent compared to 2006. Riverside County remained the busiest county in the state for single-family building-permit activity in 2007, even though its volume of single-family building permits plummeted 52.8 percent in 2007, according to Construction Industry Research Board data reported by the California Building Industry Association. A total of 9,766 single-family building permits were issued in the county in 2006, down from 20,692 in 2006. Statewide single-family building permit activity fell from 108,021 units in 2006 to 67,993 in 2007 -- the lowest level of single-family starts since 1982, when 51,160 starts were recorded. Multifamily building permits dropped 21.2 percent, from 56,259 to 44,307. And the combined total for single-family and multifamily building permits declined 31.6 percent, from 164,280 in 2006 to 112,300 in 2007. Nationally, total si...