Weekly Silicon Valley Real Estate Market Update June 19, 2020

Every week, I go over news that can affect Bay Area Real Estate. I look into news and data that can affect the Silicon Valley Real Estate Market. Tune in weekly!

Another week, another record low mortgage rate

https://www.housingwire.com/articles/mortgage-rates-tumble-to-another-all-time-low/

Foreclosure extension another 2 months through end of August 31, 2020

https://www.housingwire.com/articles/fha-extends-foreclosure-and-eviction-moratorium-again/

Purchase applications reach highest level in over 11 years

https://www.housingwire.com/articles/purchase-applications-reach-highest-level-in-over-11-years/

Housing Demand is 25% above pre-pandemic levels

https://www.housingwire.com/articles/the-real-estate-market-heats-up-housing-demand-is-25-above-pre-pandemic-levels/

91% of economists surveyed by the WSJ say the recovery is already underway or will be soon

https://www.keepingcurrentmatters.com/2020/06/17/is-the-economic-recovery-already-underway/

SF Vacancy Rates 6.2%

https://www.youtube.com/watch?v=ltlHKdkBgx0&list=WL

Top 3 reasons buyers are more likely to purchase a home in the next year

https://www.keepingcurrentmatters.com/2020/06/16/three-reasons-homebuyers-are-ready-to-purchase-this-year/

Prior decade, built 10.4 million new homes versus recent 5.2 million homes. Nowhere close to enough construction needed.

https://www.housingwire.com/articles/heres-why-there-arent-enough-homes-to-buy-right-now/

Market Data

https://docs.google.com/spreadsheets/d/1P5T3T4doU9vutLotcKnZ0WCZahU0nvKn1khR-QQsrTI/edit#gid=0

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My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!

Spencer Hsu, MBA, Realtor

Spencer@SpencerHsu.com

408-547-4590

EXP Realty DRE #02077253

https://www.homesbyspencerhsu.com/

#BayAreaRealEstate