Report: California Sees Steep Decline in Building Permits
In April, as COVID-19 raged, California saw its lowest level of building permit activity since 2012.
That’s according to the latest California Construction Review (CCR) released by the Construction Industry Research Board (CIRB).
April 2018 reached a peak of 10,572 total housing units issued, while April 2020 issued 5,383 units statewide, which is a 49% decrease compared to just two years prior and a 44% decrease from April of 2019.
Though March 2020 revealed some positive trends in multifamily permit categories and single-family was strong in March throughout the U.S., the tide seems to have turned and COVID-19 restrictions are finally having a substantial impact on California building permits issued.
These figures suggest that the pandemic is compounding an already crippling housing shortage in the Golden State.
Learn more here.