Research Facts & Figures
> Economic Forecasts & Updates
>
February 2009 Monthly Analysis
> Construction
CONSTRUCTION PERMITS
The following tables and graphs compare the 12-month periods of February 2007 – January 2008 and February 2008 – January 2009. This method provides a year-over-year comparison and can be less volatile than the month-over-month comparison.
|
Region
|
Total Value of Construction Permits
2/08 – 1/09
|
Annual Change in Total Value of
Construction Permits
2/07-1/08 vs. 2/08-1/09
|
Annual
Percent Change
|
|
East Bay
|
$2,561,654,580
|
-$1,052,929,093
|
-29.1%
|
|
Napa
|
$319,638,261
|
-$126,334,250
|
-28.3%
|
|
San Francisco
|
$3,377,048,151
|
-$865,647,139
|
-20.4%
|
|
San Jose
|
$2,862,116,965
|
-$492,647,256
|
-14.7%
|
|
Vallejo-Fairfield
|
$632,437,287
|
-$459,656,898
|
-42.1%
|
In a comparison of these two twelve-month periods, the East Bay showed a decrease in construction permit values, falling 29.1 percent (over $1 billion) from the previous period. All other Bay Area regions posted losses during this period as well.
RESIDENTIAL & NON-RESIDENTIAL PERMITS
When comparing the two previous 12-month periods of February 2007 – January 2008 and February 2008 – January 2009, residential permit values fell throughout the Bay Area with the steepest declines occurring in the East Bay and Vallejo-Fairfield regions. Non-residential construction permit values, which had been posting annual increases despite continued losses in residential construction, fell in all Bay Area regions during this period.
NON-RESIDENTIAL -- COMMERCIAL &
INDUSTRIAL
In a comparison of commercial and industrial construction permits issued during the same two 12-month periods, the dollar value of commercial permits issued in the East Bay fell 16.8 percent when compared to the previous period. Commercial building permit values fell in the double-digits throughout the Bay Area during this period, falling most sharply in the Napa region (down 53.4 percent). Industrial permit values jumped 59.8 percent in the East Bay region during the same period, and posted losses in the Bay Area’s other regions.
SINGLE & MULTI-FAMILY PERMITS
All Bay Area regions saw significant residential construction declines when compared with the previous 12-month period. The East Bay’s drop from 3,819 single-family unit permits in the 2007-2008 period to 1,673 single-family permits in the 2008-2009 period was the most dramatic of the declines.
EAST BAY CONSTRUCTION
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
January
2009.
Previous : Home Sales
< Bay Area Construction >
Next:
Trade & Transport
|
