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California June Housing Starts Up 12.5%

August 23, 1987

California housing production in June jumped 12.5% over May, as measured by building permits issued, according to the California Building Industry Assn.

Multifamily building led with a 20% increase over May. Single-family homes showed a 6.2% increase. During June, permits were issued for 26,564 units.

If the June rate continues through the end of 1987, according to Ben Bartolotto, research director of the Construction Industry Research Board, it would generate 251,800 units. This would compare with 314,700 for 1986, and 271,400 for 1985. The low point this decade was 85,000 units in 1982.

"The shock of increased mortgage rates has worn off. Rates seem to be stabilizing and, of course, there's still tremendous demand for housing in California," according to the association's president, J. A. Farina of Fresno.

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