Tami McCraw, REALTOR® EMAIL TAMI
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Below I have compiled the most recent information available regarding the economic outlook for San Diego's Real Estate market along with actual data from the Bureau of Economic Analysis, the SD Chamber of Commerce, the Department of Labor and more. Quick Links are Below: San Diego Market 2005 Economic Forecast San Diego Economic Research Bureau:PDF files Leading Economic Indicators San Diego Economic Research Bureau:PDF files Personal income by major source and earnings by major industry - California County income and employment summary -- San Diego, CA Regional economic profiles -- San Diego, CA Total full-time and part-time employment by industry -- San Diego, CA Compensation of Employees by Industry -- San Diego, CA
Addressing the San Diego Market : Tami McCraw, REALTOR ®
Buying and Selling real estate in Downtown San Diego, Old town San Diego, Scripps Ranch, Rancho Bernardo, Del Mar, and other high traffic areas can be complicated under our evolving market conditions. Tami McCraw and I will do what I can to get you answers that are reliable and timely.
As a member of Coldwell Banker Residential Brokerage, I have a team of licensed realtors and resources at my side to help you find and manage any and all real estate opportunities.
I also provide these services and resources: Relocation
Personal income by major source and earnings by major industry - California (Millions of dollars, seasonally adjusted at annual rates)
Code Item 2004.1 2004.2 2004.3 2004.4 2005.1 2005.2 2005.3
Income by place of residence
0010 1,232,134 1,250,427 1,264,874 1,302,381 1,310,250 1,327,404 1,340,319
Derivation of personal income
0035 Earnings by place of work981,338 997,444 1,012,559 1,039,328 1,055,527 1,069,764 1,084,137
0036 less: Contributions for government social insurance 2 /107,713 108,948 110,922 113,990 115,978 116,752 117,810
0037 Employee and self-employed contributions for government social insurance55,056 55,791 56,856 58,388 59,407 59,834 60,397
0038 Employer contributions for government social insurance52,657 53,157 54,066 55,602 56,570 56,918 57,412
0042 plus: Adjustment for residence 3 /-305 -297 -286 -302 -290 -274 -269
0045 equals: Net earnings by place of residence873,320 888,198 901,351 925,036 939,259 952,738 966,058
0046 plus: Dividends, interest, and rent 4 /197,061 198,075 198,786 209,990 198,929 200,235 200,738
0047 plus: Personal current transfer receipts161,753 164,154 164,738 167,355 172,061 174,431 173,524
0048 State unemployment insurance benefits5,983 5,113 4,706 4,528 4,348 4,155 3,981
0049 Personal current transfer receipts excluding State U.I.155,770 159,041 160,032 162,827 167,713 170,276 169,542
Earnings by place of work
Components of earnings
0050 Wage and salary disbursements681,308 689,283 702,224 723,324 729,535 736,500 745,642
0060 Supplements to wages and salaries163,423 165,613 168,590 173,773 178,274 180,788 183,479
0061 Employer contributions for employee pension and insurance funds110,766 112,456 114,525 118,172 121,704 123,869 126,067
0062 Employer contributions for government social insurance52,657 53,157 54,066 55,602 56,570 56,918 57,412
0070 Proprietors' income 5 /136,608 142,548 141,745 142,230 147,718 152,477 155,016
0071 Farm proprietors' income6,811 7,744 4,994 3,986 6,717 7,305 6,484
0072 Nonfarm proprietors' income129,797 134,805 136,750 138,244 141,001 145,172 148,532
Earnings by industry
0081 Farm earnings12,330 13,411 10,875 10,180 13,025 13,668 12,900
0082 Nonfarm earnings969,008 984,033 1,001,683 1,029,148 1,042,501 1,056,096 1,071,237
0090 Private earnings811,805 825,688 841,809 868,565 879,495 892,388 905,332
0100 Forestry, fishing, related activities, and other 6 /5,857 5,979 5,954 6,071 6,298 6,302 6,413
0200 Mining3,042 2,949 3,161 3,276 3,311 3,364 3,462
0300 Utilities9,534 9,574 9,794 9,981 10,060 10,249 10,494
0400 Construction62,018 64,992 67,023 68,339 70,507 72,619 75,092
0500 Manufacturing120,491 118,821 121,464 124,268 127,069 128,605 129,435
0510 Durable goods83,345 82,756 85,344 86,770 88,610 88,435 89,888
0530 Nondurable goods37,147 36,065 36,121 37,498 38,460 40,170 39,547
0600 Wholesale trade46,083 47,199 48,155 49,654 50,557 51,348 52,041
0700 Retail trade65,369 67,425 67,995 70,052 69,882 71,371 72,443
0800 Transportation and warehousing26,758 27,461 28,039 28,769 28,885 29,032 29,118
0900 Information55,186 55,667 56,045 59,852 58,267 57,929 57,503
1000 Finance and insurance68,906 69,232 70,734 74,119 74,526 74,533 75,067
1100 Real estate and rental and leasing30,978 33,584 34,639 34,420 34,113 36,488 39,191
1200 Professional and technical services102,666 103,506 105,703 110,268 113,493 115,339 116,610
1300 Management of companies and enterprises20,854 21,262 21,118 22,801 22,226 21,108 21,512
1400 Administrative and waste services37,084 37,877 38,543 39,588 40,529 41,212 42,006
1500 Educational services10,797 10,993 11,151 11,449 11,715 11,922 11,988
1600 Health care and social assistance75,872 77,108 78,393 80,729 82,393 84,373 85,644
1700 Arts, entertainment, and recreation15,194 15,712 16,305 16,090 15,972 16,406 16,637
1800 Accommodation and food services26,371 27,159 27,498 27,879 28,460 28,607 28,849
1900 Other services, except public administration28,746 29,189 30,094 30,959 31,232 31,582 31,828
2000 Government and government enterprises157,203 158,345 159,874 160,584 163,006 163,708 165,904
2001 Federal, civilian21,174 21,842 21,706 21,834 22,229 22,602 22,663
2002 Military13,651 13,704 14,002 14,161 14,514 14,350 14,301
2010 State and local122,378 122,799 124,166 124,588 126,263 126,756 128,941
SOURCE: http://www.bea.gov/bea/regional/sqpi/action.cfm
BEARFACTS http://www.bea.gov/bea/regional/bearfacts
BEA Regional Facts-BEARFACTS-consists of computer-generated narratives for states, counties, metropolitan statistical areas (MSAs), and BEA Economic Areas. The narratives describe an area's personal income using current estimates, growth rates, and a breakdown of the sources of personal income. You may compare the year of your choice (1979?2003) with a year that falls ten years prior, for example 2003 compared to 1993. A clickable state map will guide you.
State BEARFACTS are based on the state estimates published on September 28, 2005.
County , BEA Economic Area , and Metropolitan Statistical Area BEARFACTS are based on the county estimates published on April 27, 2005.
San Diego BEARFACTS
San Diego-Carlsbad-San Marcos is one of 361 Metropolitan Statistical Areas (MSAs) in the nation. Its 2003 population of 2,918,829 ranked 17th in the nation.
In 2003 San Diego-Carlsbad-San Marcos had a per capita personal income (PCPI) of $35,841. This PCPI ranked 28th in the United States and was 114 percent of the national average, $31,472. The 2003 PCPI reflected an increase of 2.7 percent from 2002. The 2002-2003 national change was 2.2 percent. In 1993 the PCPI of San Diego-Carlsbad-San Marcos was $22,157 and ranked 61st in the United States. The 1993-2003 average annual growth rate of PCPI was 4.9 percent. The average annual growth rate for the nation was 4.0 percent.
In 2003 San Diego-Carlsbad-San Marcos had a total personal income (TPI) of $104,614,274. This TPI ranked 16th in the United States. In 1993 the TPI of San Diego-Carlsbad-San Marcos was $57,603,444 and ranked 17th in the United States. The 2003 TPI reflected an increase of 3.5 percent from 2002. The 2002-2003 national change was 3.2 percent. The 1993-2003 average annual growth rate of TPI was 6.1 percent. The average annual growth rate for the nation was 5.1 percent.
Total personal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of San Diego-Carlsbad-San Marcos. In 2003 net earnings accounted for 71.0 percent of TPI (compared with 66.7 in 1993); dividends, interest, and rent were 17.6 percent (compared with 20.5 in 1993); and personal current transfer receipts were 11.4 percent (compared with 12.8 in 1993). From 2002 to 2003 net earnings increased 5.0 percent; dividends, interest, and rent decreased 2.4 percent; and personal current transfer receipts increased 3.7 percent. From 1993 to 2003 net earnings increased on average 6.8 percent each year; dividends, interest, and rent increased on average 4.6 percent; and personal current transfer receipts increased on average 4.9 percent.
Earnings of persons employed in San Diego-Carlsbad-San Marcos increased from $79,230,366 in 2002 to $83,136,606 in 2003, an increase of 4.9 percent. The 2002-2003 national change was 4.1 percent. The average annual growth rate from the 1993 estimate of $42,850,678 to the 2003 estimate was 6.9 percent. The average annual growth rate for the nation was 5.3 percent.
Note: All income estimates with the exception of PCPI are in thousands of dollars, not adjusted for inflation.
County income and employment summary -- San Diego, CA (thousands of dollars)
Code Item 2002 2003
010 101,118,328 104,614,274
011 Nonfarm personal income 1/ 100,812,062 104,307,142
012 Farm income 2/ 306,266 307,132
020 3/ 2,896,098 2,918,829
030 4/ 34,915 35,841
035 Earnings by place of work 79,230,366 83,136,606
036 Less: Contributions for government social insurance 5/ 8,453,035 8,848,028
037 Employee and self-employed contributions for government social insurance 4,352,464 4,543,324
038 Employer contributions for government social insurance 4,100,571 4,304,704
042 Plus: Adjustment for residence 6/ -5,398 20,923
045 Equals: Net earnings by place of residence 70,771,933 74,309,501
046 Plus: Dividends, interest, and rent 7/ 18,890,852 18,429,513
047 Plus: Personal current transfer receipts 11,455,543 11,875,260
050 Wage and salary disbursements 55,815,721 57,839,393
060 Supplements to wages and salaries 13,299,439 14,340,792
061 Employer contributions for employee pension and insurance funds 9,198,868 10,036,088
062 Employer contributions for government social insurance 4,100,571 4,304,704
070 Proprietors' income 8/ 10,115,206 10,956,421
071 Farm proprietors' income 97,905 111,854
072 Nonfarm proprietors' income 10,017,301 10,844,567
7010 1,784,538 1,816,527
7020 Wage and salary employment 1,450,882 1,471,765
7040 Proprietors employment 333,656 344,762
SOURCE: http://www.bea.gov
Regional economic profiles -- San Diego, CA
Code Item 2002 2003
Place of residence profile (thousands of dollars)
010 101,118,328 104,614,274
Derivation of personal income
045 Net earnings 1/ 70,771,933 74,309,501
050 Personal current transfer receipts 11,455,543 11,875,260
060 Income maintenance 2/ 1,227,390 1,290,019
070 Unemployment insurance compensation 395,932 398,036
080 Retirement and other 9,832,221 10,187,205
090 Dividends, interest, and rent 18,890,852 18,429,513
100 Population (persons) 3/ 2,896,098 2,918,829
Per capita incomes (dollars) 4/
110 Per capita personal income 34,915 35,841
120 Per capita net earnings 24,437 25,459
130 Per capita personal current transfer receipts 3,956 4,069
140 Per capita income maintenance 424 442
150 Per capita unemployment insurance benefits 137 136
160 Per capita retirement and other 3,395 3,490
170 Per capita dividends, interest, and rent 6,523 6,314
Place of work profile
180 Earnings by place of work ($000) 79,230,366 83,136,606
190 Wage and salary disbursements 55,815,721 57,839,393
200 Supplements to wages and salaries 13,299,439 14,340,792
201 Employer contributions for employee pension and insurance funds 9,198,868 10,036,088
202 Employer contributions for government social insurance 4,100,571 4,304,704
210 Proprietors' income 10,115,206 10,956,421
220 Nonfarm proprietors' income 10,017,301 10,844,567
230 Farm proprietors' income 97,905 111,854
240 Total full-time and part-time employment 1,784,538 1,816,527
250 Wage and salary jobs 1,450,882 1,471,765
260 Number of proprietors 333,656 344,762
270 Number of nonfarm proprietors 5/ 327,229 338,432
280 Number of farm proprietors 6,427 6,330
290 44,398 45,767
300 Average wage and salary disbursements 38,470 39,299
310 Average nonfarm proprietors' income 30,613 32,044
SOURCE: http://www.bea.gov
Total full-time and part-time employment by industry -- San Diego, CA (number of jobs)
Code Item 2001 2002 2003
0010 1,750,736 1,784,538 1,816,527
0020 Wage and salary employment 1,421,107 1,450,882 1,471,765
0040 Proprietors employment 329,629 333,656 344,762
0050 Farm proprietors employment 6,431 6,427 6,330
0060 Nonfarm proprietors employment 2/ 323,198 327,229 338,432
0070 Farm employment 15,269 16,852 16,524
0080 Nonfarm employment 1,735,467 1,767,686 1,800,003
0090 Private employment 1,408,111 1,424,907 1,450,577
0100 Forestry, fishing, related activities, and other 3/ 4,298 4,333 4,175
0200 Mining 1,661 1,480 1,361
0300 Utilities 5,569 5,920 6,249
0400 Construction 100,900 100,941 104,712
0500 Manufacturing 129,802 123,027 116,080
0600 Wholesale trade 48,673 50,118 50,341
0700 Retail trade 176,001 178,466 182,542
0800 Transportation and warehousing 29,847 29,221 28,713
0900 Information 47,044 44,788 42,604
1000 Finance and insurance 74,102 75,907 80,297
1100 Real estate and rental and leasing 82,313 84,460 87,787
1200 Professional and technical services 163,663 165,754 170,321
1300 Management of companies and enterprises 19,108 21,743 21,100
1400 Administrative and waste services 110,984 113,719 115,625
1500 Educational services 25,049 27,025 28,661
1600 Health care and social assistance 127,614 131,291 133,816
1700 Arts, entertainment, and recreation 39,515 39,951 40,869
1800 Accommodation and food services 123,870 124,947 129,671
1900 Other services, except public administration 98,098 101,816 105,653
2000 Government and government enterprises 327,356 342,779 349,426
2001 Federal, civilian 39,169 39,099 40,293
2002 Military 112,374 117,764 122,160
2010 State and local 175,813 185,916 186,973
2011 State government 35,969 39,884 42,169
2012 Local government 139,844 146,032 144,804
Source: http://www.bea.gov
Compensation of Employees by Industry -- San Diego, CA (thousands of dollars)
Code Item 2001 2002 2003 2004
Total compensation of employees ($000)
0001 1/ 65,426,918 69,115,715 72,937,334 78,463,756
0005 53,537,487 55,632,730 58,019,154 61,786,845
0006 11,889,431 13,482,985 14,918,180 16,676,911
0007 Employer contributions for employee pension and insurance funds 7,971,466 9,269,032 10,419,913 11,785,288
0008 Employer contributions for government social insurance 3,917,965 4,213,953 4,498,267 4,891,623
0009 2/ 46,039 47,799 49,796 53,044
Compensation of employees by industry
0081 Farm compensation 230,646 220,255 231,723 292,488
0082 Nonfarm compensation 65,196,272 68,895,460 72,705,611 78,171,268
0090 Private compensation 48,424,257 50,834,510 53,242,276 57,514,827
0100 Forestry, fishing, related activities, and other 3/ 78,631 84,752 74,607 79,275
0101 Forestry and logging 0 (D) (D) (D)
0102 Fishing, hunting, and trapping 25,269 (D) (D) (D)
0103 Agriculture and forestry support activities 53,362 57,595 55,789 61,781
0104 Other 3/ 0 0 0 0
0200 Mining 21,956 24,926 26,952 32,096
0201 Oil and gas extraction (D) 3,128 (D) 1,766
0202 Mining (except oil and gas) (D) 19,483 (D) 28,573
0203 Support activities for mining 854 2,315 3,451 1,757
0300 Utilities 435,762 518,602 438,094 457,137
0400 Construction 3,794,918 4,110,933 4,352,947 5,082,574
0401 Construction of buildings 917,641 983,974 1,088,877 1,344,683
0402 Heavy and civil engineering construction 599,393 665,125 666,967 792,553
0403 Specialty trade contractors 2,277,884 2,461,834 2,597,103 2,945,338
0500 Manufacturing 7,445,344 7,508,801 7,632,823 7,996,322
0510 Durable goods manufacturing 6,063,168 6,122,614 6,247,176 6,447,940
0511 Wood product manufacturing 50,449 50,960 45,230 46,536
0512 Nonmetallic mineral product manufacturing 135,804 140,090 150,422 179,040
0513 Primary metal manufacturing 54,090 47,020 38,164 35,273
0514 Fabricated metal product manufacturing 435,120 435,811 438,440 444,382
0515 Machinery manufacturing 673,346 748,471 712,366 632,575
0516 Computer and electronic product manufacturing 2,775,703 2,597,646 2,790,598 2,786,073
0517 Electrical equipment and appliance manufacturing 182,240 214,556 219,988 205,491
0518 Motor vehicle manufacturing 61,402 77,904 73,579 63,109
0519 Transportation equipment mfg. excl. motor vehicles 763,675 874,812 837,654 982,366
0521 Furniture and related product manufacturing 173,755 178,283 169,464 169,467
0522 Miscellaneous manufacturing 757,584 757,061 771,271 903,628
0530 Nondurable goods manufacturing 1,382,176 1,386,187 1,385,647 1,548,382
0531 Food manufacturing 203,088 191,915 181,942 206,281
0532 Beverage and tobacco product manufacturing 62,323 75,357 72,464 78,634
0533 Textile mills 19,388 18,258 16,209 14,919
0534 Textile product mills 38,537 35,796 46,077 54,722
0535 Apparel manufacturing 102,480 92,025 85,126 92,471
0536 Leather and allied product manufacturing 7,670 8,557 8,893 8,765
0537 Paper manufacturing 59,937 64,279 58,508 58,229
0538 Printing and related support activities 267,201 217,889 216,963 231,205
0539 Petroleum and coal products manufacturing 7,748 10,376 11,873 9,988
0541 Chemical manufacturing 451,543 509,078 528,294 622,806
0542 Plastics and rubber products manufacturing 162,261 162,657 159,298 170,362
0600 Wholesale trade 2,509,642 2,579,386 2,717,489 2,955,156
0700 Retail trade 4,433,897 4,665,814 4,876,543 5,238,477
0701 Motor vehicle and parts dealers 936,210 1,003,450 1,060,763 1,111,074
0702 Furniture and home furnishings stores 232,769 252,485 253,898 271,012
0703 Electronics and appliance stores 535,106 473,296 519,734 488,138
0704 Building material and garden supply stores 340,876 366,359 392,363 432,636
0705 Food and beverage stores 648,258 692,393 717,308 747,139
0706 Health and personal care stores 287,421 306,830 322,549 363,236
0707 Gasoline stations 101,159 107,708 108,926 120,568
0708 Clothing and clothing accessories stores 277,603 308,278 332,135 456,453
0709 Sporting goods, hobby, book and music stores 166,232 181,243 186,938 196,178
0711 General merchandise stores 537,923 579,853 605,688 618,838
0712 Miscellaneous store retailers 270,923 303,858 290,020 340,519
0713 Nonstore retailers 99,417 90,061 86,221 92,686
0800 Transportation and warehousing 856,104 887,059 917,610 1,028,206
0801 Air transportation 109,490 103,367 95,166 93,709
0802 Rail transportation (D) (D) (D) 19,018
0803 Water transportation 3,357 2,148 2,141 1,226
0804 Truck transportation 228,323 227,896 224,365 245,165
0805 Transit and ground passenger transportation 63,487 78,152 79,727 92,719
0806 Pipeline transportation (D) (D) (D) 1,300
0807 Scenic and sightseeing transportation 18,743 20,811 21,744 23,620
0808 Support activities for transportation 147,324 157,587 180,035 205,679
0809 Couriers and messengers 146,513 156,509 162,569 176,112
0811 Warehousing and storage 118,933 120,702 132,409 169,658
0900 Information 3,637,767 3,496,666 3,509,132 4,173,639
0901 Publishing industries, except Internet 918,120 909,637 795,629 856,754
0902 Motion picture and sound recording industries 136,151 118,854 100,350 67,976
0903 Broadcasting, except Internet 299,791 295,113 301,819 334,752
0904 Internet publishing and broadcasting 24,939 22,418 71,825 82,551
0905 Telecommunications 1,985,178 1,960,823 2,066,227 2,586,104
0906 ISPs, search portals, and data processing 261,806 177,426 159,321 232,938
0907 Other information services 11,782 12,395 13,961 12,564
1000 Finance and insurance 3,351,057 3,801,294 4,251,722 4,500,080
1001 Monetary authorities - central bank (D) (D) 0 0
1002 Credit intermediation and related activities 1,262,161 1,588,996 1,995,106 2,022,663
1003 Securities, commodity contracts, investments 1,010,005 1,030,932 (D) 1,033,944
1004 Insurance carriers and related activities 1,038,782 1,120,135 1,273,529 1,343,830
1005 Funds, trusts, and other financial vehicles (D) (D) (D) 99,643
1100 Real estate and rental and leasing 1,142,666 1,226,123 1,337,212 1,446,710
1101 Real estate 853,954 941,782 1,058,229 1,152,892
1102 Rental and leasing services 231,588 253,877 252,230 265,443
1103 Lessors of nonfinancial intangible assets 57,124 30,464 26,753 28,375
1200 Professional and technical services 7,650,189 7,868,144 8,137,151 8,445,518
1300 Management of companies and enterprises 1,281,911 1,296,334 1,358,630 1,430,672
1400 Administrative and waste services 2,613,212 2,899,108 2,977,833 3,232,057
1401 Administrative and support services 2,516,217 2,797,740 2,870,528 3,106,220
1402 Waste management and remediation services 96,995 101,368 107,305 125,837
1500 Educational services 569,758 640,523 698,880 789,841
1600 Health care and social assistance 4,139,084 4,510,175 4,824,931 5,066,134
1601 Ambulatory health care services 2,161,501 2,418,889 2,553,018 2,662,573
1602 Hospitals 1,033,290 1,081,134 1,211,189 1,339,074
1603 Nursing and residential care facilities 466,067 495,531 526,496 533,850
1604 Social assistance 478,226 514,621 534,228 530,637
1700 Arts, entertainment, and recreation 730,511 744,838 788,993 868,326
1701 Performing arts and spectator sports 295,144 302,504 324,815 370,397
1702 Museums, historical sites, zoos, and parks 86,452 86,499 91,614 96,191
1703 Amusement, gambling, and recreation 348,915 355,835 372,564 401,738
1800 Accommodation and food services 2,126,580 2,243,002 2,423,932 2,710,494
1801 Accommodation 715,440 686,892 746,047 898,128
1802 Food services and drinking places 1,411,140 1,556,110 1,677,885 1,812,366
1900 Other services, except public administration 1,605,268 1,728,030 1,896,795 1,982,113
1901 Repair and maintenance 481,769 505,113 559,583 562,391
1902 Personal and laundry services 351,692 374,199 407,378 433,162
1903 Membership associations and organizations 555,234 635,795 692,554 733,155
1904 Private households 216,573 212,923 237,280 253,405
2000 Government and government enterprises 16,772,015 18,060,950 19,463,335 20,656,441
2001 Federal, civilian 3,010,674 3,270,717 3,402,745 3,517,156
2002 Military 5,693,853 5,996,872 6,713,815 7,412,874
2010 State and local 8,067,488 8,793,361 9,346,775 9,726,411
2011 State government 1,627,824 1,773,746 1,907,114 1,989,468
2012 Local government 6,439,664 7,019,615 7,439,661 7,736,943
SOURCE: http://www.bea.gov
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Personal income
