During the first half of 2024, California single-family housing permits surged to 31,653, a notable 62% of housing permits overall, indicating homebuilders are responding to high demand and mortgage incentives.
The decline in apartment construction, as developers pull back from recent building trends, is a direct reaction to oversupply and escalating vacancy rates, making it harder for landlords to attract new tenants.
#california-housing-market #real-estate-trends #single-family-homes #multifamily-construction #economic-analysis
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