Things have undoubtedly been crazy lately, and many of you have been asking about the impact to the housing market in the Bay Area.
Unlike other data reports, I’ve taken a broader look at the macroeconomic environment to try and put Bay Area Housing into context. And, by tracking the real-time changes in the market, I’ve identified some key signals below.
If you’re racing to your next Zoom call, here’s the TL;DR: Inventory is low, but on the rise. Prices are down, and buyers have increased leverage. As we move towards reopening, I strongly believe that many of these trends will be temporary. The housing market here will stay resilient and, therefore, competition will heat up. If you’re realizing now that you don’t love your home, there is really no better time to buy.
![graph showing the oil down then up while public equities continue to rally from their march and april low's.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_1-Graph-1024x1024.jpg)
![chart showing how low interest rates plus mortgage demand has led to tightening requirements on borrowers.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_Graph-2-1024x1024.jpg)
![graph showing the economic condition continues to decline, mortgage forbearance requests have skyrocketed.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_3-Graph-1024x1024.jpg)
![chart showing that in bay area, the housing market remains strong with inventory levels increasing from prior weeks.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_4-Graph-1024x1024.jpg)
![chart showing that the listings in the bay area market are showing greater price transparency, conditions are becoming more favorable to buyers.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_5-Graph-1024x1024.jpg)
![chart showing the signs in san francisco, the north and south bay indicates further movement into buyer's market territory.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_6-Graph-1024x1024.jpg)
![chart that shows with 69 in contract listings for every 100 active, buyers' demand is on the rise.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_7-Graph-1024x1024.jpg)
![chart the shows that with any hope, new habits will continue after the pandemic recedes, alleviating strain on the environment.](https://blakelyhull.com/wp-content/uploads/2020/07/052020_MarketReport_SMPosts-color-change_8-Graph-1024x1024.jpg)