(San Francisco, CA– May 1, 2011) “The Bay Area Market is performing much better than many others and is beginning to show signs of stabilization in 1Q11,” according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

The overall Bay Area economy is showing a sign of growth this quarter. Annual job creation is positive in 1Q11. The unemployed population is 10.3% compared to the State level of 12.0%. However, the anticipated state budget crisis will have a significant impact on jobs throughout 2011.

Bay Area Annual Housing starts are down 27% from 1Q10, while closings are also down 40%. There were only 515 new home starts and 733 closings in 1Q2011. Closings have been outpacing starts for more than three years. As a result, inventory levels are below equilibrium.

Finished inventory of housing has been steadily decreasing over the past year. As of 1Q11, vacant inventory levels are now below equilibrium. The Bay Area housing market has 2,650 Finished Vacant homes, meaning 6.9 months of supply; but consider the Single Family Finished Vacant inventory levels are considerably low at 411, or 1.9 months of supply.

Lot inventories in the Bay Area have also slowed over the past few years. This slow down of development will make finished lots more desirable and thus increase demand, causing prices to go down. As of 1Q11, lot Inventory for single family detached homes is 8,525, a 47-month supply. These lots will go quickly as the market continues to improve.

“It appears the market has bottomed out and will continue to evolve through 2011 and show signs of improvement by end of the year,” said Greg Gross, director of Metrostudy’s Northern California Region. “2011 will be a year of opportunity to secure long term land positions throughout the California market. A thorough understanding of competitive framework, buyer segmentation and conducting strategic planning will be vital for success and in some cases, survival.”

For information contact:
greg gross @ 925.826.3801
email ggross@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

(San Francisco, CA– February 1, 2011) The Bay Area housing market is performing much better than many others, and is beginning to show signs of stabilization, shows a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

“The overall Bay Area economy is showing a sign of stabilization, as the rate of loss is slowing,” said Greg Gross, director of Metrostudy’s Northern California Region. January though November showed employment gains with an increase of 27,000 more people employed. The region’s job market is stronger than most throughout the state but the losses are significant. While the annual figures are negative, the overall Bay Area job market is gaining traction in some areas

Bay Area Annual Housing starts are down 15% from 4Q09, while closings are also down 27%. Closings have been outpacing starts for more than three years. As a result, inventory levels are now below equilibrium.

Finished inventory of housing has been steadily decreasing over the past year. With 3,234 Finished Vacant homes, the market now has 6.2 months of supply.

Total housing inventory for attached product has increased to 19 months. Only one year ago there was two years of supply.

As the past few years have demonstrated, the San Francisco Bay Area Region is not immune to the slowing national economic trends. However, it is expected that the Bay Area housing market will continue improving through 2011 as the job situation gradually improves and housing inventory shrinks.

While challenging for current business, like 2010, 2011 will also be a year of opportunity to secure long term land positions throughout the California market. A thorough understanding of competitive framework, buyer segmentation and conducting crucial strategic planning will be vital for success and in some cases, survival.

For information contact:
greg gross @ 916.231.9370
email ggross@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

(San Francisco, CA– November 1, 2010) The San Francisco housing market is expected to challenge builders, yet show gradual signs of improvement by 4Q10, according to a recent report by Metrostudy, a national housing data and consulting firm that maintains the most extensive primary database on residential construction in the US housing market.

3,224 Finished Vacant homes translate to 4.9 months of supply. Single Family Detached product inventory had only 407 finished vacant and 1.5 month supply. “Total housing inventory for attached product has dropped to 14 months,” said Greg Gross, director of Metrostudy’s Northern California Region. “Only one year ago we had two years of supply.”

The Oakland MSA lost 23,700 jobs year over year and San Francisco lost 18,300 jobs year over year. “The rate of loss is slowing and the region’s job market is stronger than others in the state, but the job losses are significant,” said Gross. “The anticipated state budget crisis and struggling local governments will have a significant impact on jobs throughout 2010 and very likely into 2011.”

The 3,764 Bay Area Annual Housing starts are up 7% from 3Q09, while the 7,871 closings are down by 2%. Closings have outpaced starts for three years now. “This is good news for inventory,” said Gross. “As a result, inventory levels are now below equilibrium.”

“2010 will likely be challenging as the market struggles with the idea of ‘bottoming out’,” said Gross. “However, a thorough understanding of competitive framework, buyer segmentation, and conducting crucial strategic planning will make 2010 a year of opportunity to secure long term land positions in the California market.”

For information contact:
greg gross @ 925.826.3801
email ggross@metrostudy.com

About Metrostudy
Metrostudy is the leading provider of primary and secondary market information to the housing industry and related industries nationwide. In addition to providing its own primary housing data for approximately 70% of the United States housing market, the company is recognized for its consulting expertise regarding real estate development, marketing and economic issues, and is a key source of research studies evaluating the marketability of residential and commercial real estate projects. Services are offered through an extensive network of offices located in major metropolitan areas throughout the U.S. For more information, visit www.metrostudy.com.

(San Francisco, CA – Jan. 26, 2010) The supply of finished new single-family detached homes in the Bay Area market continues to dwindle. Overall new-home inventory totaled 4,355 units for the nine-county region at the end of the fourth quarter of 2009, a 6.2-month supply. However, of this total, only 531 were single-family detached homes, a 1.9-month supply, said Greg Gross, director of Metrostudy’s Bay Area division.

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