Stock markets & volatility: Stock markets plunged today - continuing the huge decline from late February - and volatility soared in response to the president's announcement regarding tariffs.
Interest rates fell to their lowest reading since last October as investors jumped out of the stock market and into bonds.
Some new Bay Area supply and demand data points were released today. They are generally similar to new national trends data pertaining to new and active listings, and price reductions. Of course, there are variations between markets. Specific regional Bay Area market reports should be finished and posted by early next week.
Note that many, if not most, of the sales closing in March (as referenced in the below charts) reflect market conditions in February when the offers to purchase went into contract, and thus pre-date the enormous changes in consumer confidence and stock markets that occurred in March (and early April). April sales data will probably better reflect the economic changes that occurred last month.
Preliminary sales data for luxury home sales of $5 million+ in March 2025: I expect a few more sales for March will be reported in coming days, but as of 4/2/25, 104 $5m+ sales were reported, an 82% month-over-month jump from February (57 sales), and a 65% year-over-year increase from March 2024 (63 sales), and about the same number of sales that occurred in March 2022, when the market was peaking in the last months of the pandemic boom.