kern county residential permit summary 2014
TRANSCRIPT
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Kern County2014 Housing Summary
P.O. Box 21118
Bakersfield, CA 93390-1118
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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
Residential Permits Value Units
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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Kern CountyResidential Building Permit Information
2012
Residential Permits Value Units
Single Family 1362 $ 265,747,787 1362
Other * 3262 $ 337,480,456 68**
Total 2685 $ 211, 589,737 1430
2013
Residential Permits Value Units
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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Kern CountyResidential Building Permit Information
2014
Residential Permits Value Units
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
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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)
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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.