California homebuilders pulled 36,209 permits statewide in 2009, a 44 percent decline compared with 2008, and 83 percent lower compared with 2004, the peak of the current cycle, according to the California Building Industry Association (CBIA). Last year also marked the second consecutive year of record-low housing production in California, according to CBIA.
According to statistics compiled by the Construction Industry Research Board (CIRB), homebuilders pulled permits for 25,046 single-family homes in 2009, down 24 percent from 2008, while multifamily permits totaled 11,163, down 65 percent from the previous year.
Permits totaled 3,594 in December, a 23 percent decline compared with December 2008, but a 39 percent increase from November 2009. Single-family permits totaled 2,460, up 28 percent from December 2008 and up 39 percent from November, while multifamily permits totaled 1,134, down 59 percent from December 2008 but up 40 percent from the previous month.
With this big decline in new housing starts, indicates future shortages of inventory. If you would like to get loan information from recommended banks, or get started and view all homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property. Please feel free to contact me today for free counseling at (619) 301-0200 visit our website, click CountyProperties.net
By the way…if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I’ll be happy to follow up and take great care of them.