June  2010 High  Ranks for San Francisco & San Jose by Forbes.com Forbes.com  recently compared various U.S. cities to determine its annual ranking of  the Most Wired Cities and Most Innovative Cities in America. San Francisco  ranked fourth on both lists, with San Jose taking the top spot for  Innovation. The Forbes 2010 Most Wired Cities are determined by the  percentage of home internet users with high-speed connections, the number  of companies providing high-speed internet access, and the number of  public wireless internet hot spots per capita.

1. Raleigh, NC  
2. Atlanta, GA  
3. Seattle, WA  
4. San Francisco, CA

The 2010 Most Innovative Cities in America are  selected by Forbes based on the number of technology, science and creative  sector jobs, the number of patents per capita, and the amount of venture  capital investment per capita:

1. San Jose, CA  
2. Austin, TX  
3. Raleigh, NC  
4. San Francisco, CA

Bay  Area and California Unemployment Rates Holding Steady Indicative  of the national economy, California's March 2010 adjusted unemployment  rate held steady at 12.6% and has hovered around this mark for the past  year, slightly up over last year's statewide figure of 11% during the same  period. San Francisco's unadjusted unemployment rate dropped to 9.6% in  April (down from 10.3% in the previous month), but shows a slight increase  over the April 2009 rate of 8.3%
Bay Area Unemployment     
  County  April-10  March-10  April-09
  Alameda  11.5%  11.9%  9.9%
  Contra Costa  11.3%  12.0%  9.3%
  Marin  8.3%  8.9%  7.3%
  Napa  10.0%  10.8%  8.1%
  San Francisco  9.6%  10.3%  8.3%
  San Mateo  9.2%  9.8%  7.9%
  Santa Clara  11.4%  12.0%  10.4%
  Solano  12.2%  13.0%  10.0%
  Sonoma  10.6%  11.4%  9.1%
  California  12.6%  12.6%  11.0%

Source: Cal EDD


Historical Unemployment - San  Francisco, California, USA




Source: Cal EDD,  BLS



Bay Area Home Sales Remain Flat


Bay  Area home sales and median prices fell slightly over March, tracking below  average despite increased high-end activity that still did not offset the  decline in sales within low-cost Bay Area regions and new home markets.  The continued shift in sales in higher-cost coastal communities increased  the region's median sale price by nearly 22% over 2009, only slightly  below last month's figure.

Home Sale Volume & Median  Prices- April 2010

  
    Sales Volume  Median Price
  All homes  Apr-09  Apr-10  %Chng  Apr-09  Apr-10  %Chng
  Alameda  1,457  1,319  -9.50%  $289,197  $350,000  21.00%
  Contra Costa  1,699  1,635  -3.80%  $225,000  $273,000  21.30%
  Marin  174  245  40.80%  $585,000  $659,000  12.60%
  Napa  99  104  5.10%  $315,000  $335,000  6.30%
  Santa Clara  1,606  1,656  3.10%  $405,000  $489,000  20.70%
  San Francisco  402  428  6.50%  $628,500  $692,500  10.20%
  San Mateo  444  556  25.20%  $520,000  $580,000  11.50%
  Solano  717  591  -17.60%  $180,000  $202,000  12.20%
  Sonoma  541  469  -13.30%  $290,000  $318,000  9.70%
  Bay Area  7,139  7,003  -1.90%  $304,000  $370,000  21.70%

Source: DQ News



Commercial  Office Report


Commercial real estate rents appear to be stabilizing.  While rents have consistently been on a downturn since mid-2008, the slope  of decline has slowed considerably. Vacancy rates mirror this trend,  dropping 1% in less than a year.




Source: Cushman and Wakefield



Building  Permits


A total of 1,830 new building and additional construction  permits were issued by the San Francisco Department of Building Inspection  in April, representing a slight increase over last month and an overall  drop of 5% when compared to April 2009.

Building Permits Issued by  
Department of Building  Inspection

  
  
     April-10  March-10  April-09
  San Francisco  1,830  1,797  1,918
  New starts  1  7  3




Life  Sciences Top VC Investment


According to a recent article in Site Selection magazine  incorporating data from Pricewaterhouse Coopers, "the life sciences sector  captured the largest share of overall venture capital during 2009." A  total of 715 biotech deals representing $6 billion accounted for 34% of  all VC investment nationwide, with the Bay Area receiving well over $1  billion in biotech funding last year.

San Francisco Bay Area Biotechnology  Investment

Venture  Funding


Venture capital investments continue to be a key barometer  of the creation of new business and industry innovation - from software  development to biotechnology. Here's how San Francisco ranks  nationally:

• Most Venture Level Funding Per 1,000 inhabitants
1. San Francisco, CA  
2. Boston, MA  
3. Austin, TX  
4. San Diego, CA