CBIA: 2011 Third-Lowest Year on Record for CA Housing Production

by agirolamo@solagroup.com

The California Building Industry Association is reporting this week that the state saw the third-lowest yearly housing permit total and the worst yearly total on record for single-family units in 2011. 

CBIA said a total of 47,015 permits were issued statewide last year for new homes, apartments, condominiums and townhomes, up 5 percent from 2010 when 44,762 permits had been issued. The 2011 total was still down 28 percent from 2008, which had held the distinction of the third-lowest total on record with 64,962 permits issued. Records began being kept in 1954 with the lowest yearly total set in 2009 with 36,421 permits issued.

“If these numbers are any indication, especially with the single-family permit total being the lowest on record since 1954, we are far from being out of the woods just yet,” said Mike Winn, CBIA’s President and CEO. “Perhaps the only positive aspect to take away from this is that the numbers are at least headed in the right direction. We strongly encourage lawmakers at the state and local level to seriously examine any measures that might harm the housing industry and further impair a broader economic recovery.”

A table listing housing starts by type and by metro area is available here. A table listing housing starts for all of 2011 by county and by type is available here. (via CBIA)

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