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California  + Bay Area  + Industrial  | 
Imports at Container Ports Continue at Near Record Levels

Uneven Recovery Contrasts California’s Red-Hot Residential Market

The distinctly lopsided and often atypical economic effects that have stemmed from the pandemic recession are clearly on display in the contrast between the labor and housing markets in California’s major metropolitan regions. Beacon Economics’ new regional outlooks spotlight how labor markets in the state’s large metros have a considerable way to go before reaching full recovery, while the housing markets in those pricey areas have experienced sharp price and sales growth in the past year.

Meanwhile, California’s export trade continued to rebound in May, with the state’s businesses shipping a total of $14.971 billion in merchandise abroad, a nominal increase of 42.7 percent from May 2020.

While this robust bounce does reflect the V-shaped recovery Beacon anticipated, the news is not as upbeat as the numbers imply. Comparisons to May 2020 are bound to be positive, given it was the worst month for exports since the Great Recession. However, 29 other states posted bigger jumps in exports.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Economy
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