Now that Daylight Savings Time is back, economic activity should start picking up throughout Whatcom County.
With daylight hours increasing and the weather improving, it's time to ramp up a few key local industries: agriculture, construction, real estate and tourism.
Berry farm activity in Whatcom County doesn't peak until the summer months, but as the weather improves and the plants come out of the dormant state, the work begins on another season. While some construction, particularly interior improvements, takes place throughout the year, this is generally the kickoff for new construction, something that traditionally shows up in local employment numbers.
Improved weather is also a factor in real estate, as activity picks up for new listings and buyers. The coming weeks are also time for increased outdoor recreation activities, which will draw people from around the region.
Other significant economic events that took place in February:
The average price for a gallon of gas in Bellingham continues to close in on $4 a gallon, according to AAA Washington. AAA's daily fuel gauge report estimates the average price for a gallon of gas in Bellingham was $3.96 on Friday, March 8. That's up 8 cents from a week before and 29 cents compared to a month ago. It is 14 cents lower than a year ago, when the BP Cherry Point fire led to a spike in prices across the West Coast.
Overall Whatcom County home values have begun to appreciate for the first time in nearly five years, according to a new federal report. The Federal Housing Finance Agency estimates that local home values rose 0.9 percent in the fourth quarter of 2012 compared to a year earlier. It's the first time since the second quarter of 2008 that Whatcom County posted a year-over-year increase in home values.
Grocery store company WinCo has received permit approval from the city to remodel the former Joe's Sporting Goods building on 300 E. Bellis Fair Parkway. The permit was issued on Thursday, Jan. 31 and calls for a $7 million remodel of the building. The remodel will also create two additional tenant spaces, according to the permit.
CJ's Beach House at 7878 Birch Bay Drive opened on Thursday, Feb. 7, drawing about 250 customers, said Jack Niemann, who owns it with his wife, Christina. On Sunday, Feb. 10, about 500 customers visited the restaurant.
A sale is pending, once again, for the Semiahmoo Hotel and two nearby golf courses.
Whatcom County quarterly retail sales
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
Sis-year quarterly low: $624.4 million, first quarter 2009
Whatcom County bankruptcies
January 2013: 36
December 2012: 43
January 2012: 63
Monthly change: down 16.3 percent
Year-over-year change: down 42.9 percent
Seven-year monthly high: 83, February 2010
Seven-year monthly low: 11, February 2006
Whatcom County auto sales
December 2012: 276
November 2012: 265
December 2011: 314
Monthly change: up 4.2 percent
Year-over-year change: down 12.1 percent
Six-year monthly high: 553, May 2006
Six-year monthly low: 140, December 2008
Whatcom County residential sales
February 2013: 143
January 2013: 142
February 2012: 128
Monthly change: up less than 1 percent
Year-over-year change: up 11.7 percent
Seven-year monthly high: 398, August 2007
Seven-year monthly low: 104, February 2009
Unincorporated Whatcom County building permit values
February 2013: $7.3 million
January 2013: $2.9 million
February 2012: $3 million
Monthly change: up 152 percent
Year-over-year change: up 143 percent
Six-year monthly high: $65.3 million, July 2011
Six-year monthly low: $2.6 million, January 2012
Whatcom County foreclosures
January 2013: 59
December 2012: 79
January 2012: 27
Monthly change: down 25.3 percent
Year-over-year change: up 119 percent
Seven-year monthly high: 153, April 2009
Seven-year monthly low: 17, September 2007
Median price of homes sold in Whatcom County
February 2013: $233,500
January 2013: $235,000
February 2012: $218,750
Monthly change: down less than 1 percent
Year-over-year change: up 6.7 percent
Seven-year monthly high: $280,450, May 2007
Seven-year monthly low: $208,000, November 2011
Whatcom homes newly listed for sale
February 2013: 355
January 2013: 288
February 2012: 265
Monthly change: up 23.3 percent
Year-over-year change: up 34percent
Seven-year monthly high: 707, May 2007
Seven-year monthly low: 131, December 2011
Bellingham airport traffic
January 2013: 41,805
December 2012: 48,486
January 2012: 38,034
Monthly change: down 13.8 percent
Year-over-year change: up 9.9 percent.
Seven-year monthly high: 55,407, July 2012
Seven-year monthly low: 12,597, September 2010
Canadian dollar
End of February 2013: 97 cents
End of January 2013: $1
End of February 2012: $1
Seven-year high: $1.07, November 2007
Seven-year low: 77 cents, March 2009
Southbound Canadian border crossings into Whatcom County
December 2012: 1,290,481
November 2012: 1,175,351
December 2011: 1,228,747
Monthly change: up 9.8 percent
Year-over-year change: up 5 percent
Six-year monthly high: 1,676,071 August 2012
Six-year monthly low: 645,792 October 2006
Bellingham building permit values
January 2013: $17.9 million
December 2012: $4.6 million
January 2012: $5 million
Monthly change: up 289 percent
Year-over-year change: up 258 percent
Seven-year monthly high: $47.3 million, December 2009
Seven-year monthly low: $1.1 million, November 2008
Ferndale building permit values
January 2013: $2.5 million
December 2012: $2.5 million
January 2012: $0.6 million
Monthly change: no change
Year-over-year change: up 317 percent
Six-year monthly high: $12.9 million, July 2007
Six-year monthly low: $0.2 million, January 2009
Whatcom County construction jobs
December 2012: 6,200
November 2012: 6,300
December 2011: 5,400
Monthly change: down 1.6 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 December 2012: 6.9 percent
Whatcom November 2012: 6.5 percent
Whatcom December 2011: 7.9 percent
State December 2012 (seasonably adjusted): 7.6 percent
Nation December 2012 (seasonably adjusted): 7.8 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.




