March was a good month for the San Diego economy, and a San Diego professor has the numbers to prove it.
The University of San Diego Burnham-Moores Center for Real Estate index grew 0.4 percent from February, from a revised 142.6 to 143.2. March was the fifth straight month that the index increased.
The index has not been this high in more than 10 years. It was last in the 143 range during the early part of 2006.
The San Diego economy should see positive but slower growth through the rest of 2017 and possibly into early 2018, according to university professor Alan Gin, who compiles the index.
Six components go into the index. Gainers included consumer confidence, up 1.77 percent, and initial claims for unemployment, recorded as an inverse, up 1.16 percent. Consumer confidence has been rising for the last nine months.
The national economy grew at 0.8 percent while a selection of local stocks appreciated 0.34 percent.
Losing ground was the number of residential building permits, down 1.42 percent. The trend is “sharply negative,” the university said. For the first quarter of 2017, total residential units authorized were down 41 percent compared to the same period in 2016.
The last component, help-wanted advertising, fell 0.35 percent.