Multifamily Permits Climb as Growth-Control Concern Rises
Spurred by “surprising” strength in multifamily construction and anticipation of local growth-control measures, California housing production increased 4.9% from May to June, with a total of 255,000 (annual rate) permits, up from 243,000.
Permits for single-family homes increased 2.9% from May to June--160,300 to 164,900 (annual rate), while multifamily permits were up 8.8% over May, 82,800 to 90,100 (annual rate), according to Roger C. Werbel, president of the California Building Industry Assn.
The Burbank-based Construction Industry Research Board has predicted a permit total for 214,000 new housing units this year (annual rate), down substantially from the 253,100 last year.
“The specter of growth-control actions throughout California has prompted both builders and buyers to look to an uncertain future and take action now,” Werbel said.
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