As we start closing the books on 2012, some of the local economic numbers indicate a strong end.
Residential real estate agents had a busy final month to cap off what was the busiest year in terms of sales since 2007. Sales of new cars also were strong in the second half of 2012 through at least November. Bankruptcies also continued to tail off locally.
However, foreclosure filings were on the rise at the end of 2012.
One interesting aspect of the year-end totals is in building permits. In Bellingham, the values of the permits issued totaled $143 million, the highest annual total since 2007, when valuations totaled $200.2 million. Much of this year's strength appeared to come in new commercial construction and business remodels.
In the unincorporated parts of Whatcom County, permit valuations totaled $97 million, which is down from $142.4 million the previous year. BP Cherry Point put in permits for a major installation project, making 2011 was a particularly busy year for the county permitting department
Other significant events that took place in December/January:
The Barkley Company filed a building permit application to build a mixed-use building in the empty lot near the Scotty Browns restaurant. The project, valued on the permit at $15.6 million, will have two parking levels along with four stories of apartments totaling 112 units. It will also have about 10,000 square feet of commercial space.
Thousands of people took part in the sneak preview and grand opening events at the new 16-screen Barkley movie theater, which opened in mid-December.
Clarence "Gabe" Gabriel stepped down as president and CEO of Haggen Inc. and is being replaced by three members of the grocery company's management team. The leadership group consists of Clement Stevens, John Turley and Ron Stevens.
Whatcom County quarterly retail sales
Q3 2012: $860.9 million
Q2 2012: $792.1 million
Q3 2011: $797.7 million
Quarterly change: up 8.7 percent
Year-over-year change: up 7.9 percent
Six-year quarterly high: $873.4 million, fourth quarter, 2007
Six -year quarterly low: $624.4 million, first quarter 2009
Whatcom County bankruptcies
November 2012: 38
October 2012: 50
November 2011: 53
Monthly change: down 24 percent
Year-over-year change: down 28.3 percent
Six -year monthly high: 83, February 2010
Six -year monthly low: 11, February 2006
Whatcom County auto sales
November 2012: 265
October 2012: 369
November 2011: 224
Monthly change: down 28.1 percent
Year-over-year change: up 18.3 percent
Six-year monthly high: 553, May 2006
Six-year monthly low: 140, December 2008
Whatcom County residential sales
December 2012: 197
November 2012: 192
December 2011: 170
Monthly change: up 2.6 percent
Year-over-year change: up 15.9 percent
Six -year monthly high: 398, August 2007
Six-year monthly low: 104, February 2009
Unincorporated Whatcom County building permit values
December 2012: $3.7 million
November 2012: $3.6 million
December 2011: $2.9 million
Monthly change: up 2.8 percent
Year-over-year change: up 27.6 percent
Five-year monthly high: $65.3 million, July 2011
Five-year monthly low: $2.6 million, January 2012
Whatcom County foreclosures
November 2012: 91
October 2012: 61
November 2011: 61
Monthly change: up 49.2 percent
Year-over-year change: up 49.2 percent
Six -year monthly high: 153, April 2009
Six-year monthly low: 17, September 2007
Median price of homes sold in Whatcom County
December 2012: $255,000
November 2012: $238,950
December 2011: $211,000
Monthly change: up 6.7 percent
Year-over-year change: up 20.9 percent
Six-year monthly high: $280,450, May 2007
Six-year monthly low: $208,000, November 2011
Whatcom homes newly listed for sale
December 2012: 160
November 2012: 208
December 2011: 131
Monthly change: down 23.1 percent
Year-over-year change: down 22.1 percent
Six-year monthly high: 707, May 2007
Six-year monthly low: 131, December 2011
Bellingham airport traffic
December 2012: 48,486
November 2012: 45,811
December 2011: 42,256
Monthly change: up 5.8 percent
Year-over-year change: up 14.7 percent.
Six-year monthly high: 55,407, July 2012
Six-year monthly low: 12,597, September 2010
Canadian dollar
End of December 2012: $1.01
End of November 2012: $1.02
End of December 2011: 98 cents
Six-year high: $1.07, November 2007
Six-year low: 77 cents, March 2009
Southbound Canadian border crossings into Whatcom County
October 2012: 1,181,225
September: 2012: 1,322,233
October 2011: 1,159,433
Monthly change: down 10.7 percent
Year-over-year change: up 1.8 percent
Five-year monthly high: 1,676,071 August 2012
Five-year monthly low: 645,792 October 2006
Bellingham building permit values
December 2012: $4.6 million
November 2012: $4.7 million
December 2011: $9.5 million
Monthly change: down 2.1 percent
Year-over-year change: down 51.6 percent
Six-year monthly high: $47.3 million, December 2009
Six-year monthly low: $1.1 million, November 2008
Ferndale building permit values
November 2012: $4.4 million
October 2012: $4.2 million
November 2011: $1.3 million
Monthly change: up 4.8 percent
Year-over-year change: up 238.5 percent
Five-year monthly high: $12.9 million, July 2007
Five-year monthly low: $0.2 million, January 2009
Whatcom County construction jobs
November 2012: 6,300
October 2012: 6,500
November 2011: 5,700
Monthly change: down 3.1 percent
Year-over-year change: up 10.5 percent
Six-year monthly high: 8,600, September 2006
Six-year monthly low: 5,000, December 2010
Whatcom County unemployment
Whatcom November 2012: 6.5 percent
Whatcom October 2012 (revised): 6.3 percent
Whatcom November 2011: 7.4 percent
State November 2012 (seasonably adjusted): 7.8 percent
Nation November 2012 (seasonably adjusted): 7.7 percent.
Six-year monthly high: 10.4 percent, February 2010
Six-year monthly low: 3.7 percent, October 2007
SOURCES: Washington State Department of Revenue; U.S. Bankruptcy Court, Western District of Washington; Cross-Sell; Washington State Department of Licensing; Northwest Multiple Listing Service; Whatcom County Planning and Development Services; Bank of Canada; Port of Bellingham; RealtyTrac; Center For Economics and Business Research, Western Washington University; City of Bellingham; Washington State Employment Security Department.
Market Report runs each month. Reach Business Editor Dave Gallagher at 360-715-2269 or dave.gallagher@bellinghamherald.com. Read his business blog at blogs.bellinghamherald.com/business or follow him on Twitter at @bhamheraldbiz.


Market Report: Holiday shopping, new theater key events in final weeks of 2012

