This is a common question that my clients ask themselves, as well as many in my real estate profession. From the various sources of online and print publications that I read, I think the overall answer is yes. I think it is true for La Jolla-San Diego, California, and the United States as a whole. Obviously there are parts of San Diego, California, and the United States that is not improving. My overall consensus is that the worst is over and the economy is improving. However, it is at a slow pace.
Here are some articles that support that there is growth in the economy:
1. Even though California has one of the highest unemployment rates, it is in the top 10 for job growth between October 2010 and October 2011: http://www.signonsandiego.com/news/2011/dec/04/california-top-10-job-growth
2. For the automotive industry, sales were up 45% for Chrysler, 7% for GM, and 13% for Ford from November 2010 to November 2011: http://detnews.com/article/20111201/AUTO01/112010423/Chrysler-sales-up-45—GM-sales-up-7—Ford-up-13-
3. Black Friday sales up 6.6% from last year: http://www.bloomberg.com/news/2011-11-26/consumers-in-u-s-release-pent-up-demand-amid-brisk-black-friday-traffic.html
5. Pending home sales jump in October: http://www.realtor.org/press_room/news_releases/2011/11/phs_oct
Please feel free to comment. If you have any sources that contradict my findings, please share. I welcome dialogue.