Do you know....
will this recession will be different than our past recessions?
Let’s look at the Orange County inventory of at our last recession. Let’s keep in mind the importance of supply and demand.
In 2006 – 16,000 Homes on the market in Orange County
In 2007 – 18,000 Homes on the market in Orange County
In 2008 – 16,000 Homes on the market in Orange County
In 2020 – There are less than 4,500 homes on the market – WOW
During our last recession, due to the massive inventory, it was a buyer’s market. Today we have low inventory and due to the complete shut down, the demand has been stifled. So right now we have low inventory and low demand…. So what is selling??
VERY special properties in very special places…..just like Emerald Bay.
Did you know....
what I am tracking in the markets right now?
There is a lot of uncertainty about how the economy and specifically when the real estate market will come back post pandemic. I wanted to share my thoughts and the questions that I am searching for answers to. If you have input, I would love to hear from you.
- Will the market recover in phases or will it be turned on like a light switch?
- Inventory levels are at a low. How will low supply affect pricing?
- How will pent up demand from a paused market affect pricing?
- How quickly will the rate of unemployment in CA decrease once businesses open and people go back to work?
- Will low mortgage rates bring buyers back to the market?
- Will buyers be looking for a larger space with the possibility of a home office and will outdoor spaces be on many buyer’s wish lists?
Did you know
…..Across our society, long-term trends are accelerating dramatically: the shift from movie theaters to Netflix, from department stores to Amazon, from gyms to Peloton, from commuting to work to working from home with Zoom, from dining out to Uber Eats delivery, from in-person check-ups to telemedicine. Novel conveniences have become daily necessities.
In industry after industry, companies that invest in scalable technology platforms for their customers are gaining distance over companies that don’t. Technology companies are benefiting from an acceleration of customer behavior toward digital approaches.
At Compass, we’re fortunate to be getting better every day, too. In this environment, our 500 person technology team is actually launching new software and tools faster than ever before, making our platform better for every single Compass agent — while our competitors, in most cases, aren’t building anything. As a result, the distance between Compass and our competitors is only widening.
I’m proud to be a founding partner of this forward thinking technological company
Did you know?
The US now has the highest number of Covid-19 cases in the world. You wouldn’t think that was the case looking at the currency market. While the new coronavirus has spread quickly across the U.S. and wreaked havoc in global markets, the U.S. dollar has been viewed as a safe asset to invest in. The U.S. is considered largely politically and economically stable and the dollar’s value isn’t likely to drastically fluctuate the way, for instance, the Turkish lira and Argentinian peso have in recent years. (CNBC)
