City Controller’s – Economic Barometer for SF

The Controller’s Office just issued their Economic Barometer report for February 2011. As you can see in the last column, almost all the trends are now marked “Positive.” 1-BR apartment rents are up 17% in 12 months.

They mark Median Home Sales Price Trend as “Negative”, but February’s median reflected an unusually high number of distress sales as a percentage of sales, which dragged the median sales price down overall, without reflecting the stability in values and the strengthening of the market that we started to see in late January. Distress sales as a percentage of sales in SF declined from 26% in February (the highest ever) to 18% in April.

I think in March and April’s Barometer reports, we’ll see further improvement in these economic measures.

Below is the chart, and the full report can be found here: http://sfcontroller.org/Modules/ShowDocument.aspx?documentid=2048

Click to enlarge:

City Controller’s – Economic Barometer for SF

The Controller’s Office just issued their Economic Barometer report for February 2011. As you can see in the last column, almost all the trends are now marked “Positive.” 1-BR apartment rents are up 17% in 12 months.

They mark Median Home Sales Price Trend as “Negative”, but February’s median reflected an unusually high number of distress sales as a percentage of sales, which dragged the median sales price down overall, without reflecting the stability in values and the strengthening of the market that we started to see in late January. Distress sales as a percentage of sales in SF declined from 26% in February (the highest ever) to 18% in April.

I think in March and April’s Barometer reports, we’ll see further improvement in these economic measures.

Below is the chart, and the full report can be found here: http://sfcontroller.org/Modules/ShowDocument.aspx?documentid=2048

Click to enlarge: