November 2007 Monthly Analysis
> Construction Permits
CONSTRUCTION PERMITS
The following two charts of residential and non-residential permit values issued in each of the Bay Area’s
regions since October 2004 provide a quick, comparative view of activity. Data follows in subsequent tables.
Between September and October 2007, the dollar value of residential construction permits increased $28
million in the East Bay, and $2 million in the Napa MSA. Permit values decreased $90 million in the San
Francisco MSA, $10 million in the San Jose MSA and $13 million in the Vallejo-Fairfield MSA during the same period.
The value of non-residential construction permits issued in the East Bay increased $38 million and $5
million in the San Jose MSA between September and October 2007, while permits in the San Francisco,
Vallejo-Fairfield and Napa MSAs declined.
12-Month Analysis of Construction Permits
The following tables and graphs compare the twelve-month periods of November 2005
– October 2006 and November 2006 – October 2007. This method provides
a year-over-year comparison and can be less volatile than the month-over-month
comparison in the previous section, which is used to show a historic overview of
construction permit values.
|
Region
|
Change in Total Value of
Construction Permits
11/05-10/06 vs. 11/06-10/07
|
Percent Change
|
|
East Bay
|
-$800,943,294
|
-18.2%
|
|
Napa
|
$97,080,345
|
34.2%
|
|
San Francisco
|
$130,220,996
|
3.4%
|
|
San Jose
|
$140,462,270
|
4.5%
|
|
Vallejo-Fairfield
|
-$228,629,870
|
-16.7%
|
In a comparison of these two twelve- month periods, the East Bay showed the
largest percentage decrease in construction permit values, dropping 18.2 percent
from the previous period. The Napa MSA was the only region to see an increase in
the double-digits, with 34.2 percent growth over the previous period.
Residential & Non-Residential Permits
When comparing the two previous twelve-month periods of November 2005 – October 2006 and November 2006 - October 2007, the San Francisco region was the only MSA to see an increase in the dollar value of residential permits issued. The steepest declines in this comparison of residential permit values were seen in the East Bay and Vallejo-Fairfield regions. Total non-residential (commercial, industrial and institutional) permit values increased around the Bay Area, with the largest increase in the San Jose region.
NON-RESIDENTIAL PERMITS In a comparison of commercial and industrial construction permits issued during the same two twelve-month periods, the Napa and San Jose regions saw large increases in commercial permit values, increasing $62 and $192 million, respectively. The East Bay and San Francisco regions saw little change, while commercial permit values in Vallejo-Fairfield declined. Industrial permit values jumped $40 million in the Napa region, and decreased over $75 million in San Francisco, while the Vallejo-Fairfield, East Bay and San Jose regions saw moderate change during the period.
SINGLE AND MULTI-FAMILY PERMITS When comparing the same two twelve-month periods, the increase of only 85 single-family residential construction permits that took place in the San Francisco region during this time period was the only increase in housing permits. Both single and multi-family residential construction have slowed throughout a majority of Bay Area regions.
EAST BAY CONSTRUCTION
The following tables examine these permit categories for the same comparative time periods for Alameda and Contra Costa Counties.
|
Construction Permit Values
|
Nov 2005 –
Oct 2006
|
Nov 2006 –
Oct 2007
|
Change
|
% Change
|
|
Alameda County Residential
|
$1,539,067,975
|
$1,179,916,555
|
-$359,151,420
|
-23.3%
|
|
Alameda County Non-Residential
|
$860,302,582
|
$813,045,244
|
-$47,257,338
|
-5.5%
|
|
Alameda County Commercial
|
$266,144,079
|
$177,650,935
|
-$88,493,144
|
-33.3%
|
|
Alameda County Industrial
|
$10,655,714
|
$71,522,344
|
$60,866,630
|
571.2%
|
|
Contra Costa County Residential
|
$1,663,034,642
|
$1,283,834,783
|
-$379,199,859
|
-22.8%
|
|
Contra Costa County Non-Residential
|
$427,230,698
|
$437,362,164
|
$10,131,466
|
2.4%
|
|
Contra Costa County Commercial
|
$103,786,115
|
$123,356,203
|
$19,570,088
|
18.9%
|
|
Contra Costa County Industrial
|
$27,728,446
|
$5,208,182
|
-$22,520,264
|
-81.2%
|
|
|
|
|
Source: CIRB
|
When compared with the twelve-month period ending in 2006, Alameda County saw a considerable increase in industrial permit values, while residential, non-residential and commercial permit values saw slight to moderate decreases. In the same comparison, Contra Costa County residential and industrial permit values declined, while permits issued for commercial structures increased, helping non-residential permit values overall to increase slightly.
|
Housing Unit Permit Comparison
|
Nov 2005-
Oct 2006
|
Nov 2006-Oct 2007
|
Change
|
% Change
|
|
ALCO Single-Family Units
|
1,531
|
1,507
|
-24
|
-1.6%
|
|
CCC Single-Family Units
|
4,170
|
2,800
|
-1370
|
-32.9%
|
|
ALCO Multi-Family Units
|
4,084
|
2,238
|
-1846
|
-45.2%
|
|
CCC Multi-Family Units
|
1,043
|
1,009
|
-34
|
-3.3%
|
|
|
|
|
Source: CIRB
|
The slowing of the housing market was visible in the declines in both single and multi-family construction permits issued over the past twelve months. When compared with the previous twelve-month period, multi-family unit permits decreased significantly in Alameda County, while single-family permits saw large declines in Contra Costa County.
The following charts show the number and value of single, multi-family, residential and non-residential construction permits issued in East Bay cities for the twelve-month period ending October 2007.
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