Statewide, home builders will revert to 1990s production levels, starting between 155,000 and 170,000 houses, condos and apartments, Nevin said in a conference call with reporters. The 2004 peak was 213,000, while California’s all-time high is 322,018 starts in 1963, according to the CBIA.
In the Sacramento region, where the market saw housing starts “nosedive” from annual highs of 18,000 from 2002-2004 to just 10,000 new houses during 2006, Nevin predicts a modest 2007 recovery. He sees 10,000 to 12,000 starts.