San Francisco Bay Area Economic & Housing Trends Defy National Malaise
Last Friday’s economic news put a damper on prospects for a robust national recovery. With lower-than-expected domestic job creation and a slight increase in unemployment, combined with equity market sell-offs and uncertainty in the eurozone, the national media immediately sounded broad-based alarms.
While the news from Washington may have seemed bleak, the truth is that the San Francisco Bay Area is thriving on its own regional economic drivers.
Our research at Pacific Union International suggests that, especially when it comes to the residential real estate industry, our markets continue to benefit from record-high demand and both seasonally and historically low inventory. Since February, we have been encouraging home sellers to join the party.
Here are positive economic indicators that drive our markets – and paint a fundamentally stronger picture of the real estate market.
Here are a few positive internal indicators driving a vibrant outlook from Pacific Union International. Our view is that the Bay Area economic recovery is healthy and as a result, our local real estate markets are thriving.
We’re constantly reminded that real estate is local – and you can’t assume that national trends apply to our neighborhoods.