Housing slide continues: California housing production continued...

Housing slide continues: California housing production continued its gradual slide in February but remained far ahead of last year’s pace, an industry group said. The California Building Industry Assn. projected that 228,000 residential building permits would be issued in 1989 if the February rate continued throughout the entire year. The seasonally adjusted February rate was down 0.8% from January’s annual rate sum of 229,900 building permits but was 6.2% ahead of the February, 1988, pace of 214,700 annual building permits, CBIA President Harold Boex said.