Thread: O.C. homebuilding nearly triple 2010 levels

O.C. homebuilding nearly triple 2010 levels

August 2nd, 2011, 9:05 am
by Jeff Collins

Orange County developers resumed building homes with a vengeance this year, with apartments and some condos making up the bulk of the increase, a new building permit report shows.

The Construction Industry Research Board reported that developers received permits to build 3,434 new housing units in Orange County during the first half of 2011, up 185% from 1,206 in the first half of 2010.

That’s the highest number of new-home permits in four years.

Specifically, the report shows:
Building permits issued this year so far jumped to their highest number since 3,648 were issued in the first half of 2007.
This year also marks the first increase in new home permits in four years . Homebuilding here fell to lows of 1,208 units in 2009 and 1,206 units in 2010.
Local governments issued permits to build 1,260 single-family homes in the first half of this year, up 66% from last year.
Multi-family permits jumped a whopping 489% to 2,174 units, up from 445 units in the first half of 2010.
Despite the increase, this year’s building permits still are 35% below the 5,300 average for the first six months of the year for the past 23 years. Single-family permits are 57% below the 23-year average, while multi-family permits are down 10% from the norm.
This year’s building permits so far are down 76% from the 14,198 issued in the first half of 1988 — the peak of the past 23 years.
Single-family permits are down 83% from 1988, while multi-family permits fell 68%.

http://lansner.ocregister.com/2011/08/0 ... ls/118931/

with apartments and some condos making up the bulk

since people are now turning to renting instead of buying homes.

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O.C. Real Estate News


Forecast: More Calif. home losses unlikely By JON LANSNER Tue Aug 02, 2011


O.C. homebuilding nearly triples 2010's By JEFF COLLINS Tue Aug 02, 2011


O.C. hottest housing? Newport Beach 92660 By JON LANSNER Tue Aug 02, 2011


Investor's downtown Surf City giant hits market By MARILYN KALFUS Tue Aug 02, 2011


Seal Beach homes sell quicker than '10 By JONATHAN LANSNER Tue Aug 02, 2011


Speedier home market for Yorba Linda By JONATHAN LANSNER Mon Aug 01, 2011


Builder with Irvine projects in $955 million deal By JON LANSNER Mon Aug 01, 2011


Fastest O.C. homes to sell? Portola Hills By JON LANSNER Mon Aug 01, 2011


Huntington Beach home sales up 6% By MARILYN KALFUS Mon Aug 01, 2011


50% of O.C.-S.D. get online housing info By JON LANSNER Mon Aug 01, 2011


Laguna Niguel home market stuck in neutral By JONATHAN LANSNER Mon Aug 01, 2011


Laguna Hills homes sell 32% faster vs. O.C. By JONATHAN LANSNER Sun Jul 31, 2011


Ladera home market: 46% quicker than O.C. By JONATHAN LANSNER Sun Jul 31, 2011


La Habra homes harder to sell in '11 By JONATHAN LANSNER Sun Jul 31, 2011


Newport Beach rents, O.C.'s highest, up 3.7% By JONATHAN LANSNER Sun Jul 31, 2011


Irvine family party house selling for $15M By JEFF COLLINS Sun Jul 31, 2011


Auction planned for O.C. mega-mansion By JEFF COLLINS and MARILYN KALFUS Sun Jul 31, 2011


Foreclosure of the week Sun Jul 31, 2011


O.C. distressed inventory at lowest level this year By MARILYN KALFUS Sun Jul 31, 2011


Plenty of house shopping left in 2011 By JONATHAN LANSNER Sun Jul 31, 2011


Beach towns suffer least in housing slump By JONATHAN LANSNER Sat Jul 30, 2011


Garden Grove home market 13% faster than O.C. By JONATHAN LANSNER Sat Jul 30, 2011


Costa Mesa home market 10% faster vs. O.C. pace By JONATHAN LANSNER Sat Jul 30, 2011

http://www.ocregister.com/common/archives/?catID=18910

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