Aided by historically low interest rates and perhaps coronavirus-driven concerns about less crowded living space, homebuyers inked 52% more deals in the latest week than in the corresponding period a year ago. That robust performance underscores the pandemic’s great divide in economic impact — the surge comes while more than 10% of the state’s workforce is unemployed.
Not all sectors are immune to COVID-19 concerns, of course. Travel by plane, though edging upward, remains severely depressed, with impacts reverberating at airlines and at Boeing.
Formation of new businesses is up compared with the same time last year — much more so nationally than in Washington state. The national numbers have shown a weakening trend, however.
On the other hand, the national numbers for new job openings are considerably stronger than those for the Seattle area.