May Permit Data Shows Housing Rebound
The residential unit permit rate in the nine-county San Francisco Bay Area declined 5.8 percent in May 2020 when compared with the same period in 2019. Despite the dip, it is a substantial improvement over the 50 percent drop in April 2020 when compared to April 2019 and shows the region is experiencing a much stronger rebound than the state as a whole. Statewide, however, the number of permits issued in May 2020 fell 48 percent when compared to the same period in 2019. The declines are attributed to the COVID-19 pandemic shelter-in-place orders. See attached infographic for more detail. The figures come from the California Construction Industry Research Board or www.cirbreport.org. BIA|Bay Area members seeking additional housing permit details should contact BIA’s Lisa Vorderbrueggen at firstname.lastname@example.org.