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Even has California continues to face a sever housing crisis, the San Francisco Chronicle reports that from 2013 through 2022 California counties and cities approved housing units at a rate of 2,600 per 100,000 residents, well below the national rate of 3,900. This places California 39th of the 50 states in the issuing of permits.
Analysts say that California’s environmental law is often incorrectly used to force a lengthy review process, thus delaying much-needed housing projects.
Rising mortgage rates and a sluggish housing market have dramatically slowed California’s construction industry, with the number of permits down 29 percent in October from the previous year.
Before things fell apart in October, California’s permitting pace was 14 percent above the pre-pandemic 2015-19 average. Again, 12,912 permits were filed in California in first 10 months of 2022, the most activity in the state since 2005.
California’s Department of Finance reports that housing permits increased by nearly 22 percent from August to September, representing 41 percent growth from 2018. This is in line with Governor Gavin Newsome’s pledge to develop 3.5 million homes in Calfironia by 2025.
Overall, multi-family units increased by 47 percent while single-family dwellings actually decreased by 2 percent. Also, while the increases are encouraging, 2018 numbers were very low.
