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 ratehttps://www.housingwire.com/articles/mortgage-rates-tumble-to-another-all-time-low/Foreclosure extension another 2 months through end of August 31, 2020https://www.housingwire.com/articles/fha-extends-foreclosure-and-eviction-moratorium-again/Purchase applications reach highest level in over 11 yearshttps://www.housingwire.com/articles/purchase-applications-reach-highest-level-in-over-11-years/Housing Demand is 25% above pre-pandemic levelshttps://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 soonhttps://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=WLTop 3 reasons buyers are more likely to purchase a home in the next yearhttps://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 Datahttps://docs.google.com/spreadsheets/d/1P5T3T4doU9vutLotcKnZ0WCZahU0nvKn1khR-QQsrTI/edit#gid=0--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧[email protected]📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--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, [email protected] Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate