SAN FRANCISCO (Reuters) – Homebuilding permits filed in California in July fell significantly from June as a state tax credit for buyers of new homes expired, a homebuilders group said on Monday.
The group also said the number of new homes built in the most populous U.S. state would sink to a record low this year.
California has been hit hard by the housing downturn which, combined with a foreclosure glut and tight mortgage credit, have hammered the state’s homebuilding industry. Click here to read the rest.
