Articles Filed Under: Real Estate Economics

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Bay Area Employment Slips, San Francisco Nears Negative Growth

Bay Area Employment Slips, San Francisco Nears Negative Growth

The unemployment rate in San Francisco jumped from 2.1 to 2.7 percent in June as the number of people living in the city with a job dropped by 1,600 to 550,600 while the labor force increased by 1,600 to 565,600. And while there are still 113,900 more people living... Read More »

50 Percent More Homes on the Market in San Francisco versus 2015

50 Percent More Homes on the Market in San Francisco versus 2015

While having slipped 6 percent over the past month with typical seasonality in play, the number of single-family homes and condos actively listed for sale in San Francisco has ticked up 9 percent over the past two weeks to 650, which is 3 percent higher on a year-over-year basis... Read More »

Mortgage Rates Inch up along with Probability of Next Rate Hike

Mortgage Rates Inch up along with Probability of Next Rate Hike

The average rate for a benchmark 30-year mortgage inched up a single (1) basis points over the past week to 4.53 percent, which is 50 basis points higher on a year-over-year basis and within 13 basis points of its seven-year high of 4.66 percent which it hit in May,... Read More »

Benchmark Mortgage Rate Slips, Short-Term Rate Inches Up

Benchmark Mortgage Rate Slips, Short-Term Rate Inches Up

The average rate for a benchmark 30-year mortgage slipped 2 basis points over the past week to 4.55 percent but remains 67 basis points higher on a year-over-year basis and within 11 basis points of the seven-year high of 4.66 percent it hit last month, according to Freddie Mac’s... Read More »

Asking Rents in San Francisco and Oakland Tick Up

Asking Rents in San Francisco and Oakland Tick Up

Having ended last year lower than where they started, asking rents for apartments in San Francisco have since ticked up nearly 6 percent since the beginning of the year. But once again, the majority of said gain can be attributed to normal seasonality. In fact, based on a comparison... Read More »

A Six-Figure Salary Is NOT ‘Low Income’ in San Francisco

A Six-Figure Salary Is NOT ‘Low Income’ in San Francisco

Despite making for a shocking headline, a “six-figure salary” is not actually considered “low income” for residents of San Francisco. Yes, for a household of four in the city, a total household income below $117,400 is considered “low income” per the U.S. Department of Housing and Urban Development, the... Read More »

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

Speaking of inventory levels, and despite what you might have read elsewhere, while the number of homes on the market in San Francisco has inched down over the past week with normal seasonality in play, there are actually 4 percent more homes on the market right now (710) than... Read More »

Benchmark Mortgage Rate Slips Post Hike

Benchmark Mortgage Rate Slips Post Hike

With last week’s expected rate hike already priced in, and the 10-year Treasury having dipped following said hike, the average rate for a benchmark 30-year mortgage slipped 5 basis points over the past week to 4.57 percent but remains 67 basis points higher on a year-over-year basis and within... Read More »

Bay Area Employment Inches Up, but Not in San Francisco

Bay Area Employment Inches Up, but Not in San Francisco

While the unemployment rate in San Francisco is holding at a record low 2.1 percent, the number of people living in the city with job has actually dropped by 4,900 to 552,900 since the beginning of the year. And while the estimated change in employment last month was a... Read More »

Mortgage Rates Ticked Up Prior to Yesterday’s Rate Hike

Mortgage Rates Ticked Up Prior to Yesterday’s Rate Hike

While measured prior to the Fed’s announcement yesterday, the average rate for a benchmark 30-year mortgage had ticked up 8 basis points over the past week to 4.62 percent, which is 71 basis points above its average rate of 3.91 percent at the same time last year and within... Read More »