Mini building boom ends in California

Builders continue to pull permits at lower rates

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

California builders pulled permits to build 2,119 single-family housing units in August, the California Building Industry Association said — about the same number as in July, when builders blamed a sharp decline on the demise of a $10,000 state tax credit for new home purchases.

Looking back a year, single-family housing permits were down 5.9 percent in August, CBIA said, citing statistics compiled by the Construction Industry Research Board (CIRB).