I was running some data today in various counties and wanted to share a bit here. The figures below are based upon information provided by the Employment Development Department. Since I do appraisals in multiple counties surrounding the Sacramento Region, it is very important for me to know understand real estate markets as well as possible. In appraisal jargon, knowing a local market is called ”geographic competency”.
In my mind, part of being in touch with a local market is to keep tabs on unemployment. Could the unemployment rate for a city be an indicator of the overall health of a local community sometimes? Or could rising unemployment impact housing prices and values? What else can unemployment rates tell us? What do you think?
July 2009 Unemployment in San Joaquin County:
- Stockton: 19.2%
- Lathrop: 11.3%
- French Camp: 48.7%
- Manteca: 14.0%
- Ripon: 9.6%
- Tracy: 10.1%
- San Joaquin County Overall Unemployment Rate: 16.0%
July 2009 Unemployment in Solano County:
- Dixon: 9.2%
- Fairfield: 12.6%
- Green Valley CDP: 10.5%
- Suisun City: 11.9%
- Vacaville: 8.6%
- Vallejo: 14.2%
- Solano County Overall Unemployment Rate: 11.5%
Please let me know if you have any questions about the data above or any other cities or Census Designated Places that were not listed above. The lists are not exhaustive for every city and CDP in the respective counties. You are welcome to contact me at 916-595-3735 or firstname.lastname@example.org.
www.SacramentoAppraisalBlog.com San Joaquin County Hits 15% Unemployment Rate for May 2009