The total number of building permits issued across the US in February 2014, represented a month-over-month decline of 6% after accounting for seasonal variability.
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The month-over-month decline was consistent between the commercial and residential sectors of the market.
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Drilling down, we see that many of the cities experiencing gains in February 2014 were in warmer climates like Cabarrus County, FL; Escambria County, FL; and Charlotte, NC. Conversely, many of the February decliners were in colder weather climates like Cleveland, OH; Columbus, OH; Howard County, MD and Madison, WI.
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This pattern could also be observed within the commercial sector. One exception was Columbus, OH, which showed healthy growth in the commercial sector despite a decline in the residential sector in February.
Notes on the analysis
- For February, 85,549 building permits were collected and analyzed from 92 regulatory agencies that made permit data available for February at the time this article was published.
- Several major cities (e.g. San Francisco, Chicago & Boston) did not have February 2014 data available and were not included in the analysis.
- Seasonal indices were developed using 10 years of permit data gathered from 40 regulatory agencies.
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