Commercial activity is normally reported as value of permits issued instead of number issued. These data are reported to the United States Census Bureau as well and are, therefore, comparable to other geographic areas. Housing permit data are reported to the Census Bureau on a monthly basis by permit issuing jurisdictions.
Monthly data are subject to seasonality and random movements.
Annual and quarterly data do not have that degree of variability. Issued permits reflect only an intent to build a house, single family or multifamily. Many, if not most, are eventually built. Housing starts data are actual houses being constructed. The advantage of permit data over start data is a forward look into housing markets.