Bay Area building permit activity rose 111 percent from January to February with 80 percent of the gain attributable to a single 143-unit mixed-use Berkeley project. At the same time, Bay Area permit area activity is down 47 percent on a year-over-year basis.
The pace of U.S. new-home sales also “unexpectedly” increased 4.7 percent from January to February (up 6.6 percent in the West), but fell 41 percent on a year-over-year basis.
In related news, we continue to see seasonality.
Home building permits rise – concerns linger [SFGate]
New-Home Sales in U.S. Rose 4.7% to a 337,000 Pace [Bloomberg]
SocketSite Sees Seasonality (Versus Signs Of A Rebound) [SocketSite]

Comments from Plugged-In Readers

  1. Posted by killbotkondo

    Please define ‘seasonality’.

  2. Posted by The Milkshake of Despair

    killbotkondo – Check out the link that the editor included under the seasonality comment :
    The chart shows that sales are always lower in the winter, picking up in the spring. There are other seasonal peaks and valleys to expect.

  3. Posted by killbotkondo

    Thanks TMOD !

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