Articles Filed Under: Real Estate Economics

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Bay Area Unemployment Drops, but Employment Drops as Well

Bay Area Unemployment Drops, but Employment Drops as Well

While the unemployment rate in San Francisco has just dropped to a record low 2.1 percent, the number of people living in the city with job has actually dropped by 5,400 to 552,400 since the beginning of the year, having dropped by 3,200 last month alone. But with the... Read More »

Mortgage Rates Hit Seven-Year Highs, Odds of a Rate Hike Hold

Mortgage Rates Hit Seven-Year Highs, Odds of a Rate Hike Hold

Having ticked up 6 basis points over the past week, the average rate for a benchmark 30-year mortgage now measures 4.61 percent, which is 59 basis points higher than the 4.02 percent rate in place at the same time last year and the highest average rate since May of... Read More »

Benchmark Mortgage Rate Holds along with Odds of a Rate Hike

Benchmark Mortgage Rate Holds along with Odds of a Rate Hike

The average rate for a benchmark 30-year mortgage held at 4.55 percent over the past week but remains 50 basis points above the 4.05 percent rate in place at the same time last year and within 5 basis points of an effective 7-year high, according to Freddie Mac’s Primary... Read More »

Number of Homes for Sale in San Francisco Is on the Rise

Number of Homes for Sale in San Francisco Is on the Rise

Driven in part by a pronounced slowdown in sales activity since the end of last year, the number of single-family homes and condos actively listed for sale in San Francisco (650) is currently running 3 percent higher versus the same time last year (630) and 41 percent above the... Read More »

SF Population Ticks Up to 884,000; Bay Area Nearing 7.8 Million Mark

The estimated population of San Francisco proper has inched up from 880,400 in July of 2017 to 884,000 as of January 1, 2018, according to the latest data from California’s Department of Finance. As such, San Francisco’s population increased by roughly 10,000 (1.14 percent) in 2017, with 64 percent... Read More »

Benchmark Mortgage Rate Jumps, Nearing 7-Year High

Benchmark Mortgage Rate Jumps, Nearing 7-Year High

The average rate for a benchmark 30-year mortgage jumped 11 basis points over the past week to 4.58 percent, which is 55 basis points higher than the 4.03 percent rate in place at the same time last year and an effective 7-year high, matching the 4.58 percent average rate... Read More »

Asking Rents Tick up in San Francisco, Slip in Oakland

Asking Rents Tick up in San Francisco, Slip in Oakland

Having ended last year lower than where they started, asking rents for apartments in San Francisco have ticked up around 3 percent since the beginning of the year, roughly half of which can be attributed to normal seasonality. And in fact, based on a comparison of nearly 3,000 listings,... Read More »

The Economics of a Rincon Hill Condo and Reality Check Redux

The Economics of a Rincon Hill Condo and Reality Check Redux

As we originally outlined back in the third quarter of 2015: Purchased for $700,000 in 2012, or roughly $1,150 per square foot, the one-bedroom One Rincon Hill condo #4404 was listed as a rental for $3,800 in mid-2014 and actually rented for $3,750 per month, which included valet parking... Read More »

Bay Area Employment Slips from Record Highs

Bay Area Employment Slips from Record Highs

At a time of the year when Bay Area employment figures typically tick up, the number of people living in the city of San Francisco with a job dropped by 1,200 in March to 555,500. But with 2,300 people having been removed from the labor force, the unemployment rate... Read More »

Mortgage Rates Tick Up, Probability of a Rate Hike Hits 100 Percent

Mortgage Rates Tick Up, Probability of a Rate Hike Hits 100 Percent

The average rate for a benchmark 30-year mortgage has ticked up 7 basis points over the past two weeks to 4.47 percent, which is the highest rate so far this year, 50 basis points higher than at the same time last year (3.97 percent), and within 11 basis points... Read More »