Requests for single-family permits rose 13 percent from last year’s second half, while requests for multifamily permits fell 27 percent, the Orange County Register reported, citing figures from the U.S. Census Bureau.
From January through June, home builders filed for 31,653 single-family housing permits, up 13 percent compared to the last six months of 2023, and 14 percent more than the 10-year average.
Meanwhile, California multifamily permits hit a 12-year low, down 27 percent to 19,035 from the previous six months and 26 percent below the 10-year average. Last year, San Francisco green-lighted the building of less than 1,200 homes, a 13-year low.
Overall, California’s 50,688 housing permits fell 7 percent from the previous six months and 5 percent below the 10-year average.
From the Real Deal
C.A.R. releases its 2025 California Housing Market Forecast
California home sales and prices are projected to increase as buyers and sellers return to the market,
enticed by lower interest rates and better housing supply conditions.
- Existing, single-family home sales are forecast to total 304,400 units in 2025, an increase of 10.5 percent from 2024’s projected pace of 275,400.
- California’s median home price is forecast to climb 4.6 percent to $909,400 in 2025, following a projected 6.8 percent increase to $869,500 in 2024 from 2023’s $814,000.
- Housing affordability* is expected to remain stable at 16 percent next year after slipping to a projected 16 percent in 2024 from 17 percent in 2023.
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WASHINGTON - Today, the U.S. Department of Housing and Urban Development (HUD) announced that through the Federal Housing Administration (FHA), in 2024, HUD served more than 790,000 people. This announcement is part of the release of the Annual Report to Congress Regarding the Financial Status of FHA’s Mutual Mortgage Insurance Fund for fiscal year 2024. The report describes the work of the FHA Single Family mortgage insurance programs in fiscal year 2024 and the performance of the FHA Mutual Mortgage Insurance Fund (MMI Fund) which supports that work.
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The median sale price for multi-family homes in Calaveras County, California in September 2024 was $534,500, which is a 13.1% increase from the previous year. In general, homes in Calaveras County sell after 35 days on the market.
Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Redfin.com