- The October unemployment rate in San Francisco was 9.3%, unchanged from the prior month, and down from 9.6% a year ago.
- After declining for three months, overall employment in the 3-County Metro Division has increased modestly in each of the past two months, on a seasonally adjusted basis.
- Housing prices in San Francisco have been inconsistent. Average prices fluctuate month-to-month, but remain virtually unchanged from the year-end 2009 average of $650,000.
- In contrast to for-sale housing, apartment market conditions have improved steadily in 2010. Average asking rents have increased 11% compared to a year ago. However, rental rates are still about 10% below their peak in September, 2008.
- Domestic and international airport traffic at SFO continues to strengthen with both indicators showing healthy monthly and annual increases in October.
- The hotel average daily rate declined in October, while occupancy levels posted a modest increase. In October, Revenue per available room night was 3.0% lower than it was in October 2009. RevPAR had been showing annual growth for most of 2010.
- Retail traffic indicators-City parking garage use and Saturday BART visitors to Powell Street-are still at or near their low points of the recession.
Monday, December 27, 2010
Controller's Office Report: October 2010 Economic Barometer
Click on the image to enlarge.
BOMA San Francisco Members:
The following includes a discussion of the October 2010 Economic Barometer highlights:
Please click here for the full report. Thank you to Ted Egan, San Francisco's Chief Economist for producing this report.