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New home sales fall to historic lows
California's housing starts remained on track for the worst annual performance in more than a half century during November, with builders pulling permits to start just 2,540 single-family homes, condominiums and apartments, the California Building Industry Association reported Wednesday. Builders have taken out 32,558 permits to start residential units the first 11 months of 2009, down by almost half from last year, the CBIA said. It's shaping up as the worst year since the state began keeping records in 1954. Homebuilders in El Dorado, Placer, Sacramento and Yolo counties have taken out 2,587 permits for housing starts the first 11 months of 2009. That's down 52 percent from 5,365 starts the same time last year. Builders in Yuba and Sutter counties took out 146 permits from January through November. That's 39 percent fewer than last year. Many California builders have slashed staff or gone out of business as buyers have turned to discounted bank repos and lower-priced existing homes in 2009. http://www.sacbee.com/latest/story/2418014.html |
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