Housing Construction in State Gained in August
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SACRAMENTO — Housing construction in California was 10% higher in August than in July, according to the California Building Industry Assn. The increase was credited to lower interest rates.
Most of the August increase occurred in single-family dwellings but since Jan. 1, multifamily structures showed a larger increase.
“At a seasonally adjusted annual rate of 247,600 units, production for the first eight months of 1985 was up 9% from the same period last year,” said Stan Swartz of San Diego, president of the association.
“During that time, multifamily housing averaged nearly 23% higher and single-family housing about 4% lower than during January-August 1984.”
More than 70% of the multifamily units were rental units, he said.
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