State of the Encinitas Economy June 2012

I follow the state of the economy in Encinitas closely as an Encinitas Realtor. It is imperative that, as an Encinitas Realtor, I am up-to-date on the health of the local economy so that I can share that information with my clients and you!

A recent article in Encinitas Patch does a great job of compiling some of the latest information regarding the economy in Encinitas. The article takes most of its information from the University of San Diego Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators for June and other sources, but here are some of the most important findings:

  • The Index of Leading Economic Indicators for June in San Diego County rose only 0.1%. However, this is a part of a trend that has seen increase of 0.6% and 0.7% in April and May of this year respectively.
  • The index has seen eight straight months of increases and is now at its highest levels since March 2008.
  • The number of residential building permits issued in June saw a sharp increase.
  • Moderate gains in help-wanted advertising and consumer confidence were seen for June.
  • Declines in employment were seen, though the area has added 24,000 jobs over the last year and a decline in employment does not mean an increase in unemployment.

Data now shows that, from January to June of this year, the number of building permits that were issued saw an increase of 4%, compared to the last 6 months of 2011.

Though there are some stumbling points and areas for improvement in the local economy, overall it is a great time to go shopping for homes for sale in Encinitas or look for some Encinitas real estate to call your home.

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