Kern County Residential Permit Summary 2014

8/10/2019 Kern County Residential Permit Summary 2014

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Kern County2014 Housing Summary

P.O. Box 21118

Bakersfield, CA 93390-1118

[email protected]


2/14

Kern County Top 15Company Permits Valuation

Lennar 157 $37,839,939

DR Horton Homes * 151 $39,195,954

Castle & Cooke 123 $27,668,137

John Balfanz * 107 $25,975,898

Beazer* 80 $17,611,759

DR Horton Inc * 62 $11,162,983

MHP * 62 $9,862,297

Meritage * 55 $11,853,110

Benchmark * 47 $12,539,548

DR Horton Inc * 59 $10,673,297

Meritage * 49 $10,208,630

Froehlich * 43 $10,279,749

Cornerstone * 38 $9,260,640

Towery Homes 34 $6,631,279

Standard Pacific * 31 $7,370,362

Lenox Homes 29 $5,701,031

K Hovnanian * 23 $5,800,828

* Indicates non-member


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Building Permit SummaryResidential Permits Value Units

S.F. Homes 1474 $315,859,960 1474

Duplexes & Twin Homes 45 $7,625,483 90

Apartments & Condos 13 $22,258,442 197

Other Structures 94 $3,627,376 0

Pools & Spas 433 $7,951,375 0

Alternative Energy 4780 $93,828,463 0

Garages & Carports 125 $2,512,092 0

Remodel & Additions 1050 $29,512,089 0

Reroof 35 $1,088,618 0

Residential Totals 8049 $484,263,904 1761


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Kern CountyResidential Building Permit Information

2010

Residential Permits Value Units

Single Family 764 $ 137,043,485 776

Other * 1921 $ 74,546,252 202**

Total 2685 $ 211, 589,737 978

2011


Single Family 818 $ 153,746,398 818

Other 2482* $ 70,495,365 195**

Total 2685 $ 211, 589,737 1013

* The additional residential permits were for alternative residential energy, additions and remodels** Additional residential building permits were for duplexes, apartments & condos


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2012


Single Family 1362 $ 265,747,787 1362

Other * 3262 $ 337,480,456 68**

Total 2685 $ 211, 589,737 1430

2013


Single Family 1640 $ 323,920,269 1640

Other* 4512 $ 106,355,654 241**

Total 6152 $ 430,275,923 1881

* The majority of additional residential permits were for alternative residential energy** Additional residential building permits were for duplexes, apartments & condos


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2014


Single Family 1474 $ 315,859,960 1474

Other * 6575 $ 168,403,944 287**

Total 6597 $ 484,263,904 1761

* The majority of additional residential permits were for alternative residential energy** Additional residential building permits were for duplexes, apartments & condos


7/14

Housing Economics Residential Construction including the building of new structures as well as

remodeling of existing ones- has direct, positive impacts on the local

economy.

The most obvious impacts are the work opportunities created in the housingindustry, as well as in other industries that provide products or services to homebuilders and buyers.

Workers are employed to directly engage in the construction activity.

J obs are generated in the industries where lumber, concrete, lighting fixtures,heating equipment, and other products that go into a home are provided.

More jobs are created when real estate agents, lawyers, and brokers provideservices to home builders and home buyers.

Other economic impacts include the revenues generated for federal andlocal governments.


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Single Family Permits 2007 - 2014

Year 2007 2008 2009 2010 2011 2012 2013 2014

Permits 3318 1610 1585 764 818 1362 1640 1474

Historic Permit Average


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Single Family PermitsPer Week

Average is 28 permits/week


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Single Family PermitsYear-To-Date TotalsBy Week

1474 Total Permits


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NAHB Estimates

3.05 jobs and $89,216 in taxes(from building an average new single family home)

1.16 jobs an $33,494 in taxes

(from building an average new multifamily rental unit)

1.11 jobs and $30,217 in taxes(from $100,000 spent on residential remodeling)


12/14

County of KernJ ob and Tax Estimates due to residential construction in 2014Type Jobs Taxes

single family home 4,496 $ 131,504,384

multifamily 90 $ 3,014,460

residential remodeling 317 $ 31,727,850

Totals 4,903 $ 166,246,694


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Challenges Lack of Water/Drought

School Fees Regulatory Challenges (RWQCB, SJVAPCD,

CEQA, SCS etc.)

Increased Fees Pending legislation (State and Federal)

Rising cost of construction materials

Lack of skilled labor

Ever changing lending regulations


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Bakersfield Priced Out Effect

MedianNew Home

Price

IncomeNeeded to

Qualify

AllHouseholds

Priced Out

$241,976 $ 62,459 258,396 479

The table below displays median new home prices, income needed to qualify formortgage by buy a median price new home and a share of households who canqualify for such mortgage.

The last column displays the number of households that will be priced out ofthe market for a new home if its price increases by $1,000.

Kern County Residential Permit Summary 2014

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