New-home construction in California, as measured by building permits issued, dropped 62 percent in January compared to the same month last year, the California Building Industry Association reported today, and fell 27.6 percent compared to December 2007.

Multifamily building permits fell 34.3 percent in January compared to January 2007, and fell 46.5 percent compared to December 2007.

New-home construction in California, as measured by building permits issued, dropped 62 percent in January compared to the same month last year, the California Building Industry Association reported today, and fell 27.6 percent compared to December 2007.

Multifamily building permits fell 34.3 percent in January compared to January 2007, and fell 46.5 percent compared to December 2007.

Single-family building permits sunk in 26 of 28 metro areas year-over-year in January, according to data supplied by the Construction Industry Research Board — permit activity rose 7.1 percent in the Ventura metro area and 1.6 percent in the Modesto area.

The Vallejo-Fairfield metro area had the most dramatic year-over-year decline in single-family permit activity in January, falling 91 percent. Next on the list was Yuba City, down 89.2 percent; El Centro, down 79.7 percent; Santa Rosa, down 75.8 percent; and Bakersfield, down 74.2 percent.

Monthly single-family permit activity jumped 129.1 percent in the Modesto metro area; 76.5 percent in Ventura; and 72 percent in Merced in January 2008 compared to December 2007, while falling 64.4 percent in Santa Rosa; 61.5 percent in Vallejo; 55.6 percent in Salinas; and 52.2 percent in the Anaheim and Napa areas.

A total of 2,608 single-family permits were pulled in January, and 2,092 multifamily permits, according to the report.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Hear from Realogy, Pacaso, SERHANT., Spotify, Redfin, Douglas Elliman, and 100+ more leaders at ICNY.Register now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription