Home Front

A blog about the economy and the Sacramento-area real estate market.

July 24, 2009
They're still starting new houses........
Sacramento-area home builders took out 374 permits in June to start construction on another round of new houses, apartments and condos - 10.8 percent of the 3,446 residential permits issued statewide during the month. The numbers were well up from May, according to this newest report from the California Building Industry Association.

June highlights:
  • Builders in El Dorado, Placer, Sacramento and Yolo counties took out permits to start 298 new single-family detached homes and 72 attached multifamily homes or apartments.
  • That's up from 232 in May.
  • Yuba and Sutter County home builders took permits for four new single-family homes. That is down from 20 in May.
  • Overall permits so far this year in the six-county region: 1,650. That's about half the same time last year, when they took out 3,285 permits.
  • Statewide, 17,842 residential permits are also down about half so far this year from 2008. Bottom line, these low numbers- necessary to regain a balance between supply and demand -represent another year with the fewest permits since the state started keeping track in 1954.

     The news for Florida builders is far far worse, as this just-arrived report shows. It says the residential construction industry in the Sunshine State is at a "standstill."

 

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