The September California Construction Review (CCR) report, published by CIRB, reveals new single-family units decreased by 9% from August 2016, but increased by 8% from September 2015. Multi-family units decreased monthly by 16% and 11% from this time last year.
Total housing units decreased by 13% from the previous month and by 3% year-to-date. Combined single- and multi-family units from January through September 2016 are also down by 2% compared to cumulative units in 2015.
September 2016 CCR Report Highlights:
- The dollar volume of residential building totaled $2,537,827,301 in September 2016, down 8% from August 2016 and up 10% from this same time last year.
- The largest project in September 2016 was a new $118.6 million, 4-story office building and parking structure in the City of Sunnyvale in Santa Clara County.
- The unemployment rate for the State of California employees in September 2016 was 5.3%, indicating a 0.3% decrease from the previous month.