Housing Production Drops 8% in State
Housing production in California fell 8% in the first quarter, damped by wet weather and softening demand.
Builders acquired permits for 16,119 homes and apartments in March, up 0.6% from February and down 19.5% from a year ago, the California Building Industry Assn. said.
Permits for single-family homes were down 16% in the first three months of the year but were up 15% for multifamily construction.
A cooling housing market has affected the rate of new construction as well as employment. In March, builders hired 9,400 fewer workers, the second-biggest monthly drop in construction employees since 1995.
Annette Haddad
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
