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March 2009 Monthly Analysis
> Construction
CONSTRUCTION PERMITS
The following tables and graphs compare the 12-month periods of March 2007 – February 2008 and March 2008 – February 2009. This method provides a year-over-year comparison and can be less volatile than the month-over-month comparison.
In a comparison of these two twelve-month periods, the East Bay showed a decrease in construction permit values, falling 29.3 percent (over $1 billion) from the previous period. All other Bay Area regions posted losses during this period as well.
|
Region
|
Total Value of Construction Permits
3/08 – 2/09
|
Annual Change in Total Value of
Construction Permits
3/07-2/08 vs. 3/08-2/09
|
Annual
Percent Change
|
|
East Bay
|
$2,480,944,125
|
-$1,030,486,470
|
-29.3%
|
|
Napa
|
$311,806,525
|
-$127,130,723
|
-29.0%
|
|
San Francisco
|
$3,125,444,482
|
-$1,285,960,390
|
-29.2%
|
|
San Jose
|
$2,679,660,571
|
-$692,890,571
|
-20.5%
|
|
Vallejo-Fairfield
|
$645,848,149
|
-$430,756,693
|
-40.0%
|
RESIDENTIAL & NON-RESIDENTIAL PERMITS
When comparing the two previous 12-month periods of March 2007 – February 2008 and March 2008 – February 2009, residential permit values fell throughout the Bay Area with the steepest declines occurring in the East Bay (down 38.1 percent) and Vallejo-Fairfield regions. Non-residential construction permit values also fell in all Bay Area regions during this period, falling over 16 percent in the East Bay.
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 23.6 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 San Francisco region (down 51.3 percent). Industrial permit values jumped 137.9 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 3,578 single-family unit permits in the 2007-2008 period to 1,626 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 February 2009.
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