Permits Show Dip in Construction of Residential Units
Residential building in July dropped 5.2% from June, as measured by permits issued for new units, according to the California Building Industry Assn.
In July, builders took out single-family permits at an annual rate of 120,000, compared to June’s annual rate of 129,600 units, a drop of 7.2%. In the multifamily sector, 118,400 permits (annual rate) were issued in July, a drop of 3% from June’s 122,000.
The figures were released by CBIA president J. A. Farina, a Fresno-based builder, who also observed that based on information from the Construction Industry Research Board, 82% of the June-July decline can be traced to San Diego County, where total units dropped 67%.
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