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

August 24, 2010
Sacramento builders scale back on single-family houses in July

Homebuilders in El Dorado, Placer, Sacramento and Yolo counties again applied the brakes in July on building new single-family houses, the California Building Industry Association reported this morning.

Builders in the four-county region applied for just 170 permits to start new single-family houses in July. That was down 43.9 percent from June's 303 construction starts - and 14 percent fewer than June 2009. The numbers speak to continued caution as federal and state first-time homebuyer tax credits have expired. 

Builders are also holding back in Yuba and Sutter counties, starting just three single-family houses in July. In June, they started work on 10.

 A year ago in July they started 13.

State tax credits up to $10,000 to buy new unoccupied homes in California, however, are still available, according to the California Franchise Tax Board. (Go deeper into the release for info on new-home credits). About $83 million of an available $100 million allocation provided for the credits remain.

Builders in El Dorado, Placer, Sacramento and Yolo counties are about even with last year for construction starts of single family houses and apartments and condos, says the CBIA analysis of numbers provided by the Construction Industry Research Board. Statewide, building permits are running 21 percent ahead of last year.

Here's how single-family starts have lined up so far in 2010:

 January - 225

 February - 117

March - 179

April - 188

May - 206

June - 303

July - 170  

 Source: Construction Industry Research Board

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