Marin real estate market shakes off coronavirus slump

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Marin IJ

The median price for detached homes in Marin County rose 5.3% in June over the prior year, marking the first solid gain since the coronavirus arrested the market.

The price — $1.45 million — was based on 254 sales last month, exactly even with the sales volume in June 2019. That reversed the steep declines in year-over-year sales volume for May and April.

In the condo and townhome market in Marin, the median price reached $730,000 last month, a gain of 7.5% over the prior June. Sales fell from 57 to 51.

Unemployment turning a corner in Marin? Economist sees positive signs

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North Bay Business Journal

Upbeat signs observed last month in Marin County’s economy could be indications things are improving, an economist suggests, just as the county prepares to reopen more businesses Monday.

Speaking on a Marin Economic Forum webinar Thursday, Robert Eyler, Ph.D., chief economist for the forum , said any positive turn could be dampened by a major spike in COVID-19 cases and a return to more restraints on business.

Planning, innovation are keys to recovery for Wine Country businesses from coronavirus economic crisis, experts say

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North Bay Business Journal

Coming months will reveal the depth of the economic pain caused by public health measures to slow the coronavirus pandemic and how long it will take to bounce back, but North Bay businesses need to plan now how they will survive the crisis and bring back revenue, according to financial and tourism experts.

“This is an issue of depth and duration, and (public) policies are trying to shrink both of those in such a way that once we open up we turn the corner more quickly,” said Sonoma State University economist Robert Eyler to 735 professionals and civic leaders participating in North Bay Business Journal’s Business Recovery Conference webinar Thursday morning.

Marin businesses brace for more virus duress

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Marin IJ

April 18, 2020

Faced with plummeting sales and growing uncertainty over when life will return to normal, many businesses across Marin are bracing for more economic challenges in the weeks and months ahead as local and state leaders begin to consider slowly lifting coronavirus restrictions.

Tim’s Treads, a San Rafael tire shop, has stayed open throughout the shutdown, but sales have plunged by more than 70%, said owner Tim Falvey.

“There’s just not a lot of cars on the road,” he said. “And people who are staying home don’t need to change their tires.”

Falvey applied weeks ago for a disaster loan through the federal Small Business Administration, but he’s heard nothing about the status of his application. He also applied for a slice of the administration’s Paycheck Protection Program, but was notified on Friday that the funding has dried up.

North Bay economist, businesses react to Newsom’s forecast for reopening

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North Bay Business Journal

April 14, 2020

Economist Robert Eyler wasn’t among those who thought Tuesday’s announcement by Gov. Gavin Newsom would be when the state would be back in business.

“What’s good about it is now we have six main bullets to watch in terms of where we think there’s going to be some lifting of the social policy,” said Eyler, dean of the School of Extended and International Education and a professor of economics at Sonoma State University. “One thing about the governor actually saying something with this specificity is that whatever data are available on the infection rates in that curve, and also on the supply and demand conditions in our health systems, are going to be watched very closely by a lot of people because they will be trying to predict the turn now, for whatever that’s worth.”