Permits for New Homes Up 3.4% in California in July
The number of permits to build new homes in California rose a seasonally adjusted 3.4% in July from June, according to the California Building Industry Assn.
The trade group said permits were issued at a 238,700-unit annual rate in July, up from a 230,800-unit annual rate in June. The July pace was 2.2% slower than the 244,100-unit rate a year earlier.
The unexpected strength of the state’s housing market in the first seven months of the year persuaded the trade group to raise its forecast of 1989 building activity. The group now predicts that permits for 229,000 apartment units and single-family homes will be issued this year, up from its original forecast of 225,000 units.
A total of 212,000 housing permits are expected to be issued in 1990, the trade group said, as the prolonged boom in the construction industry continues to wind down.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
