Brookings: Sacramento

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The MetroMonitor study, conducted by the Washington, D.C.-bases independent research andpolicy institute’s Metropolitam Policy Program, ranked the Sacramento-Arden Arcade-Roseville area No. 88 among the larges t 100 metropolitan areas in terms of economic performance duringthe recession. Sacrament barely escaped the bottom 10, which was dominated by Central Valleytcities Stockton, Fresno and Modesto, and Florida’s Jacksonville, Tampa and Bradenton. Detroit grabbed the 100th spot. According to the the San Antonio metropolitan area was the stronges t performing area in thefirst quarter. It was followed by Oklahomza City; Austin, Texas; Dallas; McAllen, Texas; Little Ark.
; Baton Rouge, La.; Tulsa, Okla.; and Omaha, Neb. The study lookefd at employment, unemployment rate, wages, gross metropolitahn product — the totalp value of goods and services produced within a metropolitan housing prices and the number of foreclosed properties owned bylendiny institutions. The percentage of employment change compared the peak quarter to the first quarterof 2009. Changes in unemployment rate compared March 2009 toMarcbh 2008. Percentage of gross metropolitan product was measurede from the peak quarter to the first quartedof 2009. The percentage of change in the housde price index compared the first quarter of 2009 to the firstr quarterof 2008.
According to the study, Sacramentl ranked 91 out of 100in one-quarter change in employmengt between the fourth quarter of 2008 and the first quarteer of 2009, with a 2.2 percenft drop. The study’s average was a 1.2 percentt drop. Sacramento also ranked 91st for it’s ratio of real estatde owned propertiesper 1,000 mortgageable The metro area has 7.4 REOs per 1,00p mortgageable properties, while the average for the largestf 100 metro areas was 3.87 According to all 100 metropolitan areas have experienced declines in grosw metropolitan product from the pre-recessionary periods. Sacramento’z 3.4 percent drop from peak was inlinse with the averageof 3.
3 The Brookings Institution began conductingy quarterly examinations of those categories as a means of understandinb how U.S. metropolitan areass are being affected by the according to anews