Good news for those struggling with California's housing shortage -- multifamily building permits shot up in June to it's highest level in a decade.
The number of multifamily-building permits -- giving rise to apartments, condominiums and townhouses -- shot up in June to its highest monthly level in more than a decade, hitting 7,378 permits in California, according to the Construction Industry Research Board. The Burbank-based group, which tracks building permits issued in the state, estimates that when adjusted for seasonal variations, the June numbers can be translated into an annual rate of 75,600 multifamily permits issued -- the highest rate in nine years, and a near doubling from last year's 38,426 permits issued.
Thanks to Chris Steins
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