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November 2008The copyright laws of the United States (Title 17 U.S. Code) forbid the unauthorized reproduction of this report by any means, including facsimile or computerized formats. Copyright © 2006, CALIFORNIA ASSOCIATION OF REALTORS®
San Diego County
Economic Profile
San Diego County Profile
1,451,960
67,922
4,200
34.2
$61,794
$30,080
9.9%
4.6%
28.6%
54.0%
34.17%
12.6%
3,107,477
Statistic State RankCharacteristic32007 Population Estimate
35% Population Change 1990-2000
% White 2007
% Hispanic 2007
% Black 2007
% Asian & Pacific Islander 2007
32000 Total Establishments
9Land Area Square Miles
2007 Civilian Employment
2007Median Age
2007 Median Household Income
2007 Per Capita Income
18% Population Change 1980-1990
SOURCE: California Association of REALTORS®;The Conference Board
INDEXUNITS
Sales of Existing Detached Homes and Pacific West Consumer ConfidenceSan Diego County, September 2008: 1,718 Units, Up 10.1% YTD, Up 86.7% YTY
0
500
1000
1500
2000
2500
3000
Jan-
90Ju
l-90
Jan-
91Ju
l-91
Jan-
92Ju
l-92
Jan-
93Ju
l-93
Jan-
94Ju
l-94
Jan-
95Ju
l-95
Jan-
96Ju
l-96
Jan-
97Ju
l-97
Jan-
98Ju
l-98
Jan-
99Ju
l-99
Jan-
00Ju
l-00
Jan-
01Ju
l-01
Jan-
02Ju
l-02
Jan-
03Ju
l-03
Jan-
04Ju
l-04
Jan-
05Ju
l-05
Jan-
06Ju
l-06
Jan-
07Ju
l-07
Jan-
08Ju
l-08
0
20
40
60
80
100
120
140
160
Sales Consumer Confidence
SOURCE: California Association of REALTORS®
UNITS
Sales of Existing Detached HomesSan Diego County, 2007: 15,106 Units, Down 20.7% YTY
0
5,000
10,000
15,000
20,000
25,000
30,000
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
0
500
1,000
1,500
2,000
2,500
Jan
Feb
Mar
Apr
May Jun
Jul
Aug
Sept
Oct
Nov
Dec
200620072008
ANNUAL MONTHLY
Median Price of Existing Detached HomesSan Diego County, September 2008: $373,620, Down 33.4% YTY
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000Ja
n-90
Jul-9
0Ja
n-91
Jul-9
1Ja
n-92
Jul-9
2Ja
n-93
Jul-9
3Ja
n-94
Jul-9
4Ja
n-95
Jul-9
5Ja
n-96
Jul-9
6Ja
n-97
Jul-9
7Ja
n-98
Jul-9
8Ja
n-99
Jul-9
9Ja
n-00
Jul-0
0Ja
n-01
Jul-0
1Ja
n-02
Jul-0
2Ja
n-03
Jul-0
3Ja
n-04
Jul-0
4Ja
n-05
Jul-0
5Ja
n-06
Jul-0
6Ja
n-07
Jul-0
7Ja
n-08
Jul-0
8
SOURCE: California Association of REALTORS®
Median Price Annual ComparisonSan Diego County, 2007: $588,703, Down 2.2% YTY
SOURCE: California Association of REALTORS®
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Jan
Feb
Mar
Apr
May Ju
nJu
lA
ugSe
ptO
ctN
ovD
ec
200620072008
MONTHLYANNUAL
Sep-08 Sep-07 Yearly % Change
San Diego County $327,000 $470,000 -30.4%Carlsbad $616,500 $750,000 -17.8%Chula Vista $330,000 $420,000 -21.4%El Cajon $260,000 $382,500 -32.0%Encinitas $670,000 $675,000 -0.7%Escondido $262,500 $440,000 -40.3%Fallbrook $376,750 $487,000 -22.6%Imperial Beach $302,500 $374,000 -19.1%La Jolla $760,000 $954,250 -20.4%La Mesa $342,000 $426,000 -19.7%Lakeside $265,000 $381,500 -30.5%Lemon Grove $238,000 $350,000 -32.0%National City $172,000 $393,000 -56.2%Oceanside $300,000 $435,000 -31.0%
Median Home Sales PriceSan Diego County
SOURCE: C.A.R.; DataQuick Information Systems. The price statistics are derived from all types of home sales --new and existing, condos and single-family.
Sep-08 Sep-07 Yearly % Change
Poway $415,000 $524,250 -20.8%Ramona $340,000 $518,000 -34.4%San Diego $332,250 $479,000 -30.6%San Marcos $360,000 $548,000 -34.3%Santee $300,000 $422,500 -29.0%Spring Valley $254,000 $340,000 -25.3%Vista $304,000 $391,000 -22.3%
Median Home Sales Price – Cont.San Diego County
SOURCE: C.A.R.; DataQuick Information Systems. The price statistics are derived from all types of home sales --new and existing, condos and single-family.
Unsold Inventory IndexSan Diego County, September 2008: 4.6 Months
0
5
10
15
20
25
Jan-
92Ju
l-92
Jan-
93Ju
l-93
Jan-
94Ju
l-94
Jan-
95Ju
l-95
Jan-
96Ju
l-96
Jan-
97Ju
l-97
Jan-
98Ju
l-98
Jan-
99Ju
l-99
Jan-
00Ju
l-00
Jan-
01Ju
l-01
Jan-
02Ju
l-02
Jan-
03Ju
l-03
Jan-
04Ju
l-04
Jan-
05Ju
l-05
Jan-
06Ju
l-06
Jan-
07Ju
l-07
Jan-
08Ju
l-08
SOURCE: California Association of REALTORS®
MONTHS
SOURCE: California Association of REALTORS®
0 5 10 15 20 25
$1,000K+
$750-1000K
$500-750K
$300-500K
$0-300K
Pric
e R
ange
(Tho
usan
ds)
LAST YEAR
THIS YEAR
Unsold Inventory By Price RangeSan Diego County Existing Homes Sept. 2008 vs. Sept. 2007
Median Time on the MarketSingle-Family Homes, San Diego County, 2008 Q2: 50.4 Days
SOURCE: California Association of REALTORS®
0
10
20
30
40
50
60
70
80
90
100
Q3/
86
Q3/
87
Q3/
88
Q3/
89
Q3/
90
Q3/
91
Q3/
92
Q3/
93
Q3/
94
Q3/
95
Q3/
96
Q3/
97
Q3/
98
Q3/
99
Q3/
00
Q3/
01
Q3/
02
Q3/
03
Q3/
04
Q3/
05
Q3/
06
Q3/
07
Q3/
08
Mortgage Rates
SOURCE: Federal Home Loan Mortgage Corporation
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Jan-
91Ju
l-91
Jan-
92Ju
l-92
Jan-
93Ju
l-93
Jan-
94Ju
l-94
Jan-
95Ju
l-95
Jan-
96Ju
l-96
Jan-
97Ju
l-97
Jan-
98Ju
l-98
Jan-
99Ju
l-99
Jan-
00Ju
l-00
Jan-
01Ju
l-01
Jan-
02Ju
l-02
Jan-
03Ju
l-03
Jan-
04Ju
l-04
Jan-
05Ju
l-05
Jan-
06Ju
l-06
Jan-
07Ju
l-07
Jan-
08Ju
l-08
FRMARMFederal Funds
Housing Affordability IndexSan Diego County December 2005: 9%
SOURCE: California Association of REALTORS®
0%
10%
20%
30%
40%
50%
Jan-
88Ju
l-88
Jan-
89Ju
l-89
Jan-
90Ju
l-90
Jan-
91Ju
l-91
Jan-
92Ju
l-92
Jan-
93Ju
l-93
Jan-
94Ju
l-94
Jan-
95Ju
l-95
Jan-
96Ju
l-96
Jan-
97Ju
l-97
Jan-
98Ju
l-98
Jan-
99Ju
l-99
Jan-
00Ju
l-00
Jan-
01Ju
l-01
Jan-
02Ju
l-02
Jan-
03Ju
l-03
Jan-
04Ju
l-04
Jan-
05Ju
l-05
% OF HOUSEHOLDS THAT CAN BUY
First-time Buyer Housing Affordability IndexSan Diego County, 1st Quarter 2008: 41%
SOURCE: California Association of REALTORS®
0%10%20%30%40%50%60%70%80%90%
100%Q
1/03
Q3/
03
Q1/
04
Q3/
04
Q1/
05
Q3/
05
Q1/
06
Q3/
06
Q1/
07
Q3/
07
Q1/
08
% OF HOUSEHOLDS THAT CAN BUY
ForeclosuresSan Diego County
SOURCE: Real Estate Research Council
0
1000
2000
3000
4000
5000
6000
Q1/
89
Q1/
90
Q1/
91
Q1/
92
Q1/
93
Q1/
94
Q1/
95
Q1/
96
Q1/
97
Q1/
98
Q1/
99
Q1/
00
Q1/
01
Q1/
02
Q1/
03
Q1/
04
Q1/
05
Q1/
06
Q1/
07
Q1/
08
Proportion of Foreclosures in Housing TransfersSan Diego County
SOURCE: Real Estate Research Council
0%
5%
10%
15%
20%
25%
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Nonfarm EmploymentSan Diego County, September 2008: Down 0.4% Y-T-Y
SOURCE: CA Employment Development Division
Y-T-Y PERCENT CHANGE
-4%
-2%
0%
2%
4%
6%
Jan-
91Ju
l-91
Jan-
92Ju
l-92
Jan-
93Ju
l-93
Jan-
94Ju
l-94
Jan-
95Ju
l-95
Jan-
96Ju
l-96
Jan-
97Ju
l-97
Jan-
98Ju
l-98
Jan-
99Ju
l-99
Jan-
00Ju
l-00
Jan-
01Ju
l-01
Jan-
02Ju
l-02
Jan-
03Ju
l-03
Jan-
04Ju
l-04
Jan-
05Ju
l-05
Jan-
06Ju
l-06
Jan-
07Ju
l-07
Jan-
08Ju
l-08
Unemployment RateSan Diego County, September 2008: 6.4%
0%
2%
4%
6%
8%
10%
Jan-
90Ju
l-90
Jan-
91Ju
l-91
Jan-
92Ju
l-92
Jan-
93Ju
l-93
Jan-
94Ju
l-94
Jan-
95Ju
l-95
Jan-
96Ju
l-96
Jan-
97Ju
l-97
Jan-
98Ju
l-98
Jan-
99Ju
l-99
Jan-
00Ju
l-00
Jan-
01Ju
l-01
Jan-
02Ju
l-02
Jan-
03Ju
l-03
Jan-
04Ju
l-04
Jan-
05Ju
l-05
Jan-
06Ju
l-06
Jan-
07Ju
l-07
Jan-
08Ju
l-08
SOURCE: CA Employment Development Division
Unemployment RateSan Diego County -- September 2008
SOURCE: CA Employment Development Department
CCD Census County DivisionCDP Census Designated Place
Area Name Labor Force RateSan Diego County 1,573,800 6.4%
Bonita CDP 6,800 6.2%Bostonia CDP 8,100 8.2%Carlsbad city 48,300 4.2%Casa de Oro Mount Helix CDP 11,000 5.5%Chula Vista city 92,000 7.5%Coronado city 8,800 4.0%Del Mar city 3,000 3.1%El Cajon city 52,800 8.8%Encinitas city 39,300 4.5%Escondido city 73,300 6.7%Fallbrook CDP 14,500 7.4%Imperial Beach city 13,800 10.4%La Mesa city 34,400 5.3%Lakeside CDP 11,100 6.5%Lemon Grove city 13,800 8.0%National City city 24,000 12.6%
Unemployment Rate – Cont.San Diego County -- September 2008
SOURCE: CA Employment Development Department
CCD Census County DivisionCDP Census Designated Place
Area Name Labor Force RateSan Diego County 1,573,800 6.4%
Oceanside city 86,400 6.1%Poway city 28,600 3.8%Ramona CDP 8,900 5.7%San Diego city 702,600 6.4%San Marcos city 31,300 6.4%Santee city 33,200 5.3%Solana Beach city 8,500 3.9%Spring Valley CDP 15,000 6.8%Valley Center CDP 4,100 2.9%Vista city 49,000 7.1%
Taxable SalesSan Diego County
-10%
-5%
0%
5%
10%
15%
Q1/
89Q
3/89
Q1/
90Q
3/90
Q1/
91Q
3/91
Q1/
92Q
3/92
Q1/
93Q
3/93
Q1/
94Q
3/94
Q1/
95Q
3/95
Q1/
96Q
3/96
Q1/
97Q
3/97
Q1/
98Q
3/98
Q1/
99Q
3/99
Q1/
00Q
3/00
Q1/
01Q
3/01
Q1/
02Q
3/02
Q1/
03Q
3/03
Q1/
04Q
3/04
Q1/
05Q
3/05
Q1/
06Q
3/06
Q1/
07Q
3/07
ANNUAL PERCENT CHANGE
SOURCE: CA State Board of Equalization
New Housing PermitsSan Diego County, September 2008: 203 Units, Down 24.0% YTD
SOURCE: Construction Industry Research Board
0
500
1000
1500
2000
2500
3000
3500
4000
4500
Jan-
88Ja
n-89
Jan-
90Ja
n-91
Jan-
92Ja
n-93
Jan-
94Ja
n-95
Jan-
96Ja
n-97
Jan-
98Ja
n-99
Jan-
00Ja
n-01
Jan-
02Ja
n-03
Jan-
04Ja
n-05
Jan-
06Ja
n-07
Jan-
08
Single Family Multi-Family
Median Price for New HomesSan Diego County 3Q08 Detached: $586,000, Attached: $379,990
SOURCE: California Association of REALTORS®; Hanley Wood
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000Q
1/88
Q1/
89
Q1/
90
Q1/
91
Q1/
92
Q1/
93
Q1/
94
Q1/
95
Q1/
96
Q1/
97
Q1/
98
Q1/
99
Q1/
00
Q1/
01
Q1/
02
Q1/
03
Q1/
04
Q1/
05
Q1/
06
Q1/
07
Q1/
08
Detached
Attached
New Home SalesSan Diego County (Attached), 2008 Q3 Sales: 248 Units
0
500
1000
1500
2000
2500
3000
3500
Q1/
88
Q1/
89
Q1/
90
Q1/
91
Q1/
92
Q1/
93
Q1/
94
Q1/
95
Q1/
96
Q1/
97
Q1/
98
Q1/
99
Q1/
00
Q1/
01
Q1/
02
Q1/
03
Q1/
04
Q1/
05
Q1/
06
Q1/
07
Q1/
08
SOURCE: California Association of REALTORS®; Hanley Wood
New Home SalesSan Diego County (Detached), 2008 Q3 Sales: 377 Units
SOURCE: California Association of REALTORS®;Hanley Wood
0
500
1000
1500
2000
2500
3000
3500
Q1/
88
Q1/
89
Q1/
90
Q1/
91
Q1/
92
Q1/
93
Q1/
94
Q1/
95
Q1/
96
Q1/
97
Q1/
98
Q1/
99
Q1/
00
Q1/
01
Q1/
02
Q1/
03
Q1/
04
Q1/
05
Q1/
06
Q1/
07
Q1/
08
Asking Rents for Class A&B ApartmentsSan Diego County, 2008 Q3: $1,405 Up 3.1% Y-T-Y
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
Q3/
97Q
1/98
Q3/
98Q
1/99
Q3/
99Q
1/00
Q3/
00Q
1/01
Q3/
01Q
1/02
Q3/
02Q
1/03
Q3/
03Q
1/04
Q3/
04Q
1/05
Q3/
05Q
1/06
Q3/
06Q
1/07
Q3/
07Q
1/08
Q3/
08
SOURCE: California Association of REALTORS®; REALFACTS
Vacancy Rates for Class A&B ApartmentsSan Diego County, 2008 Q3: 4.2%
SOURCE: California Association of REALTORS®; REALFACTS
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
1990
1993
Q4/
95
Q2/
97
Q1/
98
Q4/
98
Q3/
99
Q2/
00
Q1/
01
Q4/
01
Q3/
02
Q2/
03
Q1/
04
Q4/
04
Q3/
05
Q2/
06
Q1/
07
Q4/
07
Q3/
08
VACANCY RATE
Population Percent ChangesSan Diego County (1971-2007)
SOURCE:U.S. Census Bureau; California Department of Finance; California Association of REALTORS®
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%19
7119
7219
7319
7419
7519
7619
7719
7819
7919
8019
8119
8219
8319
8419
8519
8619
8719
8819
8919
9019
9119
9219
9319
9419
9519
9619
9719
9819
9920
0020
0120
0220
0320
0420
0520
0620
07
San Diego CountyCANation
Sources of Population GrowthSan Diego County (1981-2007)
THOUSANDS
SOURCE: CA Department of Finance
-40
-20
0
20
40
60
80
100
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Natural IncreaseNet Migration
Net Immigration Vs. Domestic MigrationSan Diego County
THOUSANDS
SOURCE: CA Department of Finance
-45
-35
-25
-15
-5
5
15
25
1991 1993 1995 1997 1999 2001 2003 2005 2007
Net Immigration
Domestic Migration
Household RelocationsSan Diego County
County Outflow Inflow Net OutflowRiverside, CA 8,079 3,873 5,198 Los Angeles, CA 4,652 5,493 (800) Orange County, CA 3,210 3,488 (213) Maricopa, AZ 2,637 1,224 1,613 Clark, NV 1,886 894 1,138 San Bernardino, CA 1,356 1,532 (88) Santa Clara, CA 919 1,029 (367) San Francisco, CA 795 545 (49) King, WA 789 606 195 Honolulu, HI 764 857 (93) Total-Top 10 25,087 19,541 6,534 All Migration 68,368 57,896 10,472 Total Number of Households 994,677
Top 10 as % of All Households 0.7%All Net Mig as % of All Households 1.1%
Source: NAR Relocation Report 2006 – IRS Data; Item 187-06061, US Census Bureau
Where are new San Diego County households coming from?
• Los Angeles (5493)• Riverside (3873)• Orange County (3488)• San Bernardino (1532)• Maricopa (1224)• Total incoming for 2006: 57,896• Total outgoing for 2006: 68,368
Source: NAR Relocation Report 2006 – IRS Data; Item 187-06061
Net Immigration by Ethnic GroupSan Diego County (1990 Census to 2000 Census)
SOURCE: CA Dept. of Finance
-150 -100 -50 0 50 100
White, Non-Hispanic
Hispanic
Asian/Pacific Islander
Black or Afr. Amer.,Non-Hisp.
Amer. Indian & AlaskaNative, Non-Hisp.
Thousands
Number of Households by EthnicitySan Diego County (1990 Census vs. 2000 Census)
SOURCE: U.S. Census Bureau
0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000
White
Hispanic
Asian/Pacific Islander
Black1990 2000
Top 10 Home Buyer SurnamesSan Diego County (2007)
0 50 100 150 200 250
Number of Buyers
SMITH
GARCIA
MARTINEZ
LOPEZ
JOHNSON
RODRIGUEZ
GONZALEZ
HERNANDEZ
NGUYEN
MILLER
SOURCE: DataQuick Information Systems
Population by Age GroupSan Diego County (2000-2010)
0
100
200
300
400
500
600
700
Thousands
0-14 15-24 25-34 35-44 45-54 55-64 65-74 75+
20002010
SOURCE: California Department of Finance; California Association of REALTORS®
Homeownership RatesSan Diego County, 2007: 59.6%
SOURCE: U.S. Census Bureau
0%5%
10%15%20%25%30%35%40%45%50%55%60%65%70%
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Homeownership Rates by AgeSan Diego County (2000 Census)
SOURCE: California Department of Finance; California Association of REALTORS®
0%
20%
40%
60%
80%
15-24 25-34 35-44 45-54 55-64 65-74 75-84 85+