Unemployment data – June, 2009

Unemployment data for the 9 counties in the Bay Area

County Unemployment rate (June 2009 ) Unemployment rate
(2002 Annual Average)
Alameda 11.40% 6.70%
Contra Costa 10.70% 5.70%
Marin 8.00% 4.90%
Napa 8.80% 4.60%
San Francisco 9.80% 6.90%
San Mateo 8.90% 5.70%
Santa Clara 11.80% 8.40%
Solano 11.30% 5.80%
Sonoma 10.20% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 11.6%.

The above data is not seasonally adjusted. 

* To check out the latest bank owned / REO listings in the Bay Area, go to
www.Peninsula-REO.com

Unemployment data – Mar, 2009

Unemployment data for the 9 counties in the Bay Area

County Unemployment rate
(Mar 2009 )
Unemployment rate
(2002 Annual Average)
Alameda 10.50% 6.70%
Contra Costa 9.80% 5.70%
Marin 7.40% 4.90%
Napa 9.00% 4.60%
San Francisco 8.30% 6.90%
San Mateo 9.00% 5.70%
Santa Clara 10.80% 8.40%
Solano 10.90% 5.80%
Sonoma 9.80% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 11.5%.

The above data is not seasonally adjusted.

Unemployment rate in March, 2009 is higher than Feb, 2009.

* To check out the latest bank owned / REO listings in the Bay Area, go to
www.Peninsula-REO.com

Unemployment data – Feb, 2009

County Unemployment rate
(Feb 2009 )
Unemployment rate
(2002 Annual Average)
Alameda 9.70% 6.70%
Contra Costa 9.30% 5.70%
Marin 6.80% 4.90%
Napa 8.50% 4.60%
San Francisco 8.30% 6.90%
San Mateo 7.60% 5.70%
Santa Clara 9.90% 8.40%
Solano 10.40% 5.80%
Sonoma 9.10% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 10.9%.

The above data is not seasonally adjusted.

There is no doubt that the job market is worst than the dot.com bust era.

* To check out the latest bank owned / REO listings in the Bay Area, go to
www.Peninsula-REO.com

Market condition in Bay Area – 03/19/2009

Market condition in Bay Area – 03/19/2009

This mainly keeps track of the entry level SFR in selected cities

Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above

  max. price Active Pending Inventory Level
(months)
Belmont < $1,000,000

25

15

7.50

Burlingame < $1,250,000

16

5

12.00

Campbell < $750,000

28

17

5.25

Daly City < $550,000

46

56

4.06

East Palo Alto < $360,000

46

33

9.86

Foster City < $1,000,000

11

1

11.00

Los Gatos < $1,000,000

32

9

12.00

Millbrae < $1,150,000

57

60

6.11

Milpitas < $550,000

21

2

10.50

Mountain View < $900,000

34

12

34.00

Pacifica < $580,000

28

24

6.46

Palo Alto < $1,200,000

12

10

5.14

Redwood City < $600,000

21

13

7.00

Redwood Shores < $1,150,000

8

3

8.00

San Carlos < $1,200,000

41

13

8.79

San Mateo < $700,000

28

31

9.33

San Jose < $400,000

690

582

8.81

Santa Clara < $650,000

79

46

9.12

South San Francisco < $600,000

35

32

4.77

Sunnyvale < $750,000

62

44

7.15

There is an increase in listings and the inventory level is up in Burlingame, Foster City, Mountain View, San Carlos.  The nicer areas in the Bay Area are feeling the ripple effect from the poor economy.  I guess some people making good money in those area got laid off and they are in a rush to sell their houses and that’s why there is a jump in the listings in the areas.

To check out the latest Bank Owned Properties / REO in the area, go to 
www.Peninsula-REO.com

Unemployment data – Nov, 2008

County Unemployment rate
(Nov 2008 )
Unemployment rate
(2002 Annual Average)
Alameda 7.30% 6.70%
Contra Costa 7.10% 5.70%
Marin 5.00% 4.90%
Napa 6.50% 4.60%
San Francisco 6.10% 6.90%
San Mateo 5.50% 5.70%
Santa Clara 7.10% 8.40%
Solano 7.90% 5.80%
Sonoma 6.50% 5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 8.3%.

Unemployment data – Oct, 2008

County Unemployment rate
(Oct 2008 )
Unemployment rate
(2002 Annual Average)
Alameda

7.10%

6.70%

Contra Costa

7.00%

5.70%

Marin

4.90%

4.90%

Napa

5.40%

4.60%

San Francisco

6.00%

6.90%

San Mateo

5.40%

5.70%

Santa Clara

6.90%

8.40%

Solano

7.70%

5.80%

Sonoma

6.20%

5.10%

Data source: California Employment Development Department

The statewide unemployment rate is 8.0%.

Market condition in Bay Area – 11/18/2008

Market condition in Bay Area – 10/19/2008

This mainly keeps track of the entry level SFR in selected cities

Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above

 

max. price

Active

Pending

Inventory Level
(months)

Belmont

< $1,000,000

28

9

3.86

Burlingame

< $1,250,000

9

6

3.86

Campbell

< $750,000

34

15

17.00

Daly City

< $550,000

62

44

5.31

East Palo Alto

< $360,000

30

41

5.63

Foster City

< $1,000,000

5

3

2.14

Los Gatos

< $1,000,000

31

7

9.30

Millbrae

< $1,150,000

15

8

4.50

Milpitas

< $550,000

70

38

11.05

Mountain View

< $900,000

18

6

4.50

Pacifica

< $580,000

21

11

4.20

Palo Alto

< $1,200,000

8

10

3.00

Redwood City

< $600,000

28

8

12.00

Redwood Shores

< $1,150,000

7

1

7.00

San Carlos

< $1,200,000

25

11

3.13

San Mateo

< $700,000

51

32

5.88

San Jose

< $400,000

639

431

9.54

Santa Clara

< $650,000

84

45

5.73

South San Francisco

< $600,000

45

25

6.14

Sunnyvale

< $750,000

71

33

7.89

Reuters – Paulson backs off asset plan; crisis cures at risk 11/12/2008

The U.S. Treasury backed away from using a $700 billion bailout fund to cleanse bank balance sheets of bad mortgage debt, while Europe reported more gloomy economic news, fanning fears of a worldwide recession.

To read the full story, please click here:

http://www.reuters.com/article/topNews/idUSTRE49N5VU20081112

CNN – New home sales tick up 2.7% 10/27/2008

Sales of newly constructed homes rose in September, according to the monthly report from the U.S. Census Bureau, inching up 2.7% from August to an annualized rate of 464,000.

To read the full story, please click here:

http://money.cnn.com/2008/10/27/real_estate/September_new_home_sales/index.htm?postversion=2008102710

Bloomberg – Evil Wall Street Exports Boomed With `Fools’ Born to Buy Debt 10/27/2008

Tom Bosh lowered the telephone receiver into its cradle, making a decision on the way down. “We’re not buying any more,” he told his traders at Bank of New York Co. “Nothing.”

It was May 2007, and Bosh, who managed $25 billion from the bank’s 13th-floor trading room above Times Square, had just hung up on Ralph Cioffi at Bear Stearns Cos. a dozen blocks away. Bosh had invested $50 million in notes from an issuer Cioffi controlled, and he was ready to pull the plug.

To read the full story, please click here:

http://www.bloomberg.com/apps/news?pid=20601206&sid=a0jln3.CSS6c&refer=realestate