April, 2000 Housing Permits Soft
According to the latest Construction Industry Research Board (CIRB) report, the number of housing unit permits issued in April declined from the year-ago level in both the state and Southern California, with Orange County the only one bucking the trend. For the first 4 months of the year, however, activity is still ahead. Total permits issued in the state were up 6.9%, with the bulk of the gain in the multi-family sector, up 23.0%. The 4-month total in Los Angeles County was ahead 37.7%, and again multiple units lead the charge with a 59.3% increase. Orange County, however, lagged, running 5.0% behind the comparable 1999 total, with the single-family sector down, while apartments were modestly ahead. The Riverside-San Bernardino area was up a quiet 4.1%, with the apartment sector providing the punch. The 4-month permit total was down 13.1% in San Diego County, with weakness in both singles and multiples. Ventura County was off 11.5%, with singles being the drag. In the Bay Area, the 4-month total for the San Francisco area plunged 39.5%, but the Oakland area's housing permit total was up 27.6%. San Jose was running ahead 39.5%.
Thanks to Chris Steins