Homebuilding Strong in June

There was a 9.9% increase over the year in total housing permits issued in California. Permits for multi-family units jumped 127.4% over June 1999.

Read Time: 1 minute

August 8, 2000, 5:30 AM PDT

By Chris Steins @urbaninsight

The June report from the Construction Industry Research Board (CIRB)was upbeat. In California, there was a 9.9% increase over the year intotal housing permits issued. Permits for multi-family units jumped 127.4%over June 1999. The biggest increases in the latter were in San DiegoCounty (821.6%), Orange County (417.8%), Los Angeles (88.8%), and San Jose(73.2%). For the first 6 months of the year, total housing permits are up 7.3%in California. Los Angeles County is running 32.9% ahead, Orange County isup by 15.6%, while the Riverside-San Bernardino area is ahead by 5.8%.San Diego County is down a modest 1.4%, while Ventura County's permit totalis lagging by 11.5%. In the Bay Area, the San Francisco metropolitan area's 6-month totalis up by 0.3%, the Oakland metropolitan area is running 3.6% ahead. TheSan Jose area is rebounding, with the 6-month total up 24.6% over the year. While the percentage changes appear to indicate a healthy level of newhomebuilding activity, the reality is that the actual number of new unitsis nowhere near to solving California's growing housing needs.

Thanks to Chris Steins

Monday, August 7, 2000 in LAEDC Economic Data Global Express (e-Edge)


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