Here comes a little sunshine

Happy Groundhog Day's Eve.

With one more flip of a calendar page, there's reason to believe that our region is finally stepping out from the shadow of recession.

n Nationally, one of the strongest economic indicators, Gross Domestic Product, increased 2.8 percent in the final quarter of 2011. The Federal Reserve is projecting the national economy will grow between 2.2 percent and 2.7 percent in 2012.

n Closer to home, Avista economist Randy Barcus notes that the foreclosure rate has fallen dramatically in the past year. In December 2010, the Kootenai County foreclosure rate was 1 in every 276 homes. But one year later, the rate was 1 in every 1,176 Kootenai County homes. By comparison, the national average in December 2011 was 1 in every 634 homes; in Idaho, it was 1 in every 796.

n In the MLS area that includes Kootenai County, property isn't leaping off the shelf like it was half a dozen years ago, but it is definitely improving. According to data provided by Realtor Kim Cooper, last year the number of properties sold increased 4.9 percent over the previous year. In 2010, 2,932 properties of all types sold, and that number increased to 3,076 in 2011. While dollar volume was down 1.1 percent, more than $600 million in real estate transactions was recorded.

n If we were to graph Kootenai County unemployment, as Alivia Metts from the state labor department did for us, you would first notice a terrifying upward trend. In April 2007, adjusted county unemployment was 1,988 people. County unemployment soared from there, hitting 8,365 last June. However, it has fallen every month since. In December it was down to 6,881 - still too high, of course, but trending in the right direction.

Perhaps the best news of all, no matter what Punxsutawney Phil sees tomorrow, is this note from climatologist Cliff Harris:

The worst of winter I believe is over!

Now that's something we can believe in.