February 10, 2020
December 2019 total single and multifamily housing units in California increased by 35%, but this influx of monthly permit activity was still not enough to dig 2019 out of an annual decrease.
The CIRB (Construction Industry Research Board) Report preliminary 2019 annual building permit totals are in, which appear to be confirming the trend we have feared: a California housing shortage.
December 2019 total single and multifamily housing units in California increased by 35% from November 2019 and 14% from December 2019, but this influx of monthly permit activity was still not enough to dig 2019 out of an annual decrease.
CIRB’s preliminary 2019 totals show 110,218 housing units issued this past year, indicating a 7% annual decrease from the 117,892 units accumulated in 2018. This decrease marks the first statistical drop in permit activity for new residential construction in California in 10 years.
Check out the chart below on the cyclical trends of statewide housing unit activity:
The last peak in California permits issued was 212,960 combined single and multifamily housing units back in 2004, which is still a 34% decrease from the highest volume of housing units issued in a single year, which was 322,018 back in 1963. View the historical unit chart here.
Here’s a brief recap of 2019 housing units compared to 2018 (and the tweet that has everyone talking about CA’s housing shortage):
- Total Housing Units: DOWN 7%
- Single-Family Units: DOWN 2%
- Multifamily Units DOWN 11%
The final annual numbers will be ready for publication in May 2020. Want to reserve your copy today? Email email@example.com to get on the distribution list.