Only 65 New Housing Units Started in November

Home building in Ventura County remains in the doldrums, with only 65 new houses and condominiums started in November. That’s 24% less than 86 in October and is down from 85 new houses in November, 1991, according to the Construction Industry Research Board.

In the first 11 months of 1992, the county’s builders started 1,053 new homes, the board reported. The total is 5.5% more than the 998 started in 1991. But the figures through November of 1992 were still only one-third of the 3,196 starts in the first 11 months of 1989, when real estate was still booming.

The value of all residential construction, including apartments, amounted to $15.9 million in November, up 8% from $14.7 million a year earlier but off 50% from $31.7 million in November, 1989.

Overall, construction activity in the county increased in November compared with a year ago, but was down in the first 11 months of 1992.

Building permits granted in November, 1992, totaled $27.3 million, 10% more than the $24.7 million of November, 1991.

In the first 11 months of 1992, however, permits totaled $432.3 million, 8% less than $472.5 million in the same period a year earlier.

Commercial building totaled $368,000 in November, 1992, down 37.5% from $589,000 in November, 1991.