Tech Hubs, such as #SanJose, #Sunnyvale, #santaclaracounty may have the edge in the housing recovery. “New supply” and “pace of sales” remained below during COVID19/SIP January, but in the West Coast, by June 21, it surpasses and continues to lead the recovery with the overall index now visibly above the pre-COVID benchmark.
What’s Driving Our Recovery?
1) Weather 2) COVID-19 containment 3) Economic resilience are three key factors driving regional differences in the housing recovery.
Realtor’s previous study about the spread of COVID-19 is closely linked to the housing slowdown, with markets with higher cases per capita more likely to see a bigger impact on supply and the pace of sales. It found that the speed and sustainability of the reopening, and each market’s ability to contain COVID-19, are dictating the speed of recovery across the regions.
Resilient economies may have an edge in the housing recovery, and areas with strong job markets before COVID-19, especially those with thriving #tech sectors, are seeing buyers and sellers reconnect faster than the rest of the country.
Yep, “West Coast rocks!” says this proud NorCal gal! 🙂
If you have any questions, or looking to relocate and would like any market stats or reports about schools in your desired area, I’m always happy to assist you in your next transition or move.