California housing production falls in February

Real estate brief

The California Building Industry Association reports that housing production in the state fell again in February, a decline that has been continuous since its peak in 2005 (see Inman News). According to CBIA statistics, single-family permits totaled 1,261, down 50 percent from last year, while multifamily permits totaled 1,037, down 76 percent from last year but up 41 percent from January.