Housing construction in the Sacramento region fell to new lows in 2011 as the number of permits for single-family homes dropped by more than 15 percent.
The slide was partly cushioned by a 38.4 percent increase in permits for new apartment buildings and town homes, the California Building Industry Association said today.
According to the CBIA, a total of 1,849 permits for single-family homes were pulled in the Sacramento area last year, down from 2010's 2,180, which was the lowest in at least 40 years. Permits for multi-family units rose to 746 from 2010's 539.
The local permitting activity echoed the statewide numbers. A total of 21,420 single-family homes were pulled throughout California last year, a 16.1 percent decline from last year and a 50-year low.
The multi-family market was up 33.1 percent statewide last year.
"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.
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