Articles Filed Under: Real Estate Economics

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Bay Area Home Sales Drop, Mix Drives Median Price Jump in SF

Bay Area Home Sales Drop, Mix Drives Median Price Jump in SF

While home sales typically tick up in October, the number of Bay Area single-family homes and condos that traded hands (7,500) dropped 5.4 percent from September to October and was 1.5 percent lower versus the same time last year. And in San Francisco, the drops were more dramatic, with... Read More »

Mortgage Rates near Two-Year High, Probability of a Hike: 99%

Mortgage Rates near Two-Year High, Probability of a Hike: 99%

Having rocketed over half a point (51 basis points) over the past three weeks, a move which shouldn’t have caught any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage now measures 4.08 percent and is within one basis point of a two-year high (4.09 percent... Read More »

Benchmark Mortgage Rate Hits 16-Month High, Hike Nearly Certain

Benchmark Mortgage Rate Hits 16-Month High, Hike Nearly Certain

For the first time this year, the average rate for a benchmark 30-year mortgage is over 4 percent. And having jumped 46 basis points over the past two weeks, a move which shouldn’t have caught any plugged-in readers by surprise, the prevailing 4.03 percent average rate is the highest... Read More »

Apples-To-Apples in Central SoMa, including Interest Rates

Apples-To-Apples in Central SoMa, including Interest Rates

Speaking of list price reductions in San Francisco, the asking price for the “rarely available” corner one-bedroom unit #802 on a penthouse level of the Palms at 555 4th Street, a level which is outfitted with gas stoves and Sub-Zero refrigerators, has just been reduced for the fourth time.... Read More »

Highest Percentage of Homes with Reduced Prices in SF Since 2011

While the inventory of single-family homes and condos listed for sale in San Francisco peaked last month, which shouldn’t have caught any plugged-in readers by surprise, there are still 38 percent more homes on the market (700) than at the same time last year and twice as many for... Read More »

Unemployment Ticks up in SF, but Employment Ticks up Even More

Unemployment Ticks up in SF, but Employment Ticks up Even More

While the unemployment rate in San Francisco ticked up from 3.3 percent in September to 3.4 percent last month, it was driven by an increase in the size of the labor force and the number of people living in the city with a job increased by 2,400 to a... Read More »

Mortgage Rates Rocket along with Probability of a Hike

Mortgage Rates Rocket along with Probability of a Hike

In a move that shouldn’t catch any plugged-in readers by surprise, the average rate for a 30-year mortgage rocketed up 37 basis points over the past week to 3.94 percent, which is the highest average rate in eleven months but still 3 basis points below the 3.97 percent rate... Read More »

Approved Oakland Tower Waylaid by Lack of Demand

Approved Oakland Tower Waylaid by Lack of Demand

The plans for a 20-story office building to rise over the 12th Street/City Center Bart Station at 1100 Broadway in Downtown Oakland, a development which includes the renovation and incorporation of the historic Key System Building next door, were approved back in 2008 but the project has yet to... Read More »

Mortgage Rates on the Move up, Poised for Post-Election Jump

Mortgage Rates on the Move up, Poised for Post-Election Jump

The average rate for a 30-year mortgage ticked up 3 basis points over the past week to 3.57 percent, which is the highest rate since the beginning of June but only 26 basis points above an all-time low of 3.31 percent and 41 basis points below the 3.98 percent... Read More »

Benchmark Mortgage Rate Bouncing around Four Month High

Benchmark Mortgage Rate Bouncing around Four Month High

The average rate for a 30-year mortgage ticked up 7 basis points over the past week to 3.54 percent, which is the highest rate since the end of June but only 23 basis points above an all-time low of 3.31 percent and 33 basis points below the 3.87 percent... Read More »