Articles Filed Under: Real Estate Economics

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Bay Area Home Sales (Mostly) Rebounded in May

Bay Area Home Sales (Mostly) Rebounded in May

Having dropped a downwardly revised 13.0 percent in April, the number of single-family homes and condos that traded hands in San Francisco rebounded 17.2 percent to 560 in May, which is 9.8 percent higher versus the same time last year as compared to 18.0 percent lower on a year-over-year... Read More »

Benchmark Mortgage Rate Holds Post Hike

Benchmark Mortgage Rate Holds Post Hike

With the probability of the Fed’s rate hike last week already priced in, the average rate for a benchmark 30-year mortgage barely moved over the past seven days, dropping one (1) basis point to an average rate of 3.90 percent and to within one (1) basis point of the... Read More »

Bay Area Employment Slips, Trending Down in S.F. and Alameda

Bay Area Employment Slips, Trending Down in S.F. and Alameda

On the heels of the weakest first quarter for employment growth since 2009, the number of people living in San Francisco with a job dropped by 1,100 in May to 542,600 versus ticking up by 800 in May of last year and 2,600 in May of 2015. But with... Read More »

The Fed Raises Rates, Signals Another Hike This Year

As predicted, the Federal Reserve just raised the benchmark Federal Funds rate, upping its target range by 0.25 percent (25 basis points) and signaling expectations for another quarter-point increase by the end of the year. The Fed dropped the benchmark rate 5 percentage points between August of 2007 and... Read More »

Bay Area Home Values Hit Another High but Gains Really Slow

Bay Area Home Values Hit Another High but Gains Really Slow

Having ticked up 1.1 percent in February to an all-time high, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area – which includes the East Bay, North Bay and Peninsula – gained another 1.0 percent in March and the index for area condos... Read More »

Benchmark Mortgage Rate Back Below 4 Percent

Benchmark Mortgage Rate Back Below 4 Percent

The average rate for a benchmark 30-year mortgage has dropped to 3.95 percent, the lowest average rate this year and 35 basis points below the 4.30 percent rate in place prior to the Fed’s second rate hike in March. At the same time, the benchmark rate remains 31 basis... Read More »

Bay Area Home Sales Slip, Slowest April in Six Years

Bay Area Home Sales Slip, Slowest April in Six Years

At a time of the year when sales typical rise around 5 percent, the number of single-family homes and condos that traded hands in San Francisco last month dropped 7 percent, from an upwardly revised 514 in March to 478 April, which is 12.3 percent lower versus the same... Read More »

Bay Area Unemployment Drops to near Record Lows, But…

Bay Area Unemployment Drops to near Record Lows, But…

Following the weakest first quarter for employment growth since 2009, the number of people living in San Francisco with a job slipped by 700 to 543,900 in April. But with the labor force having dropped by 2,600 as well, the unemployment rate in the city has dropped to a... Read More »

Pipeline of Development in S.F. Holds but Nearing Negative Growth

Pipeline of Development in S.F. Holds but Nearing Negative Growth

With new proposals having been submitted to the City for roughly the same number of residential units that finished construction in the first quarter of the year, the overall pipeline of apartments and condos under development in San Francisco is holding around 63,600. But as we first noted last... Read More »

Benchmark Mortgage Rate Holding Around 4 Percent

Benchmark Mortgage Rate Holding Around 4 Percent

Having briefly dipped below 4 percent two weeks ago, the average rate for a benchmark 30-year mortgage has inched back up to 4.02 percent. While that’s 41 basis points above the 3.61 percent average rate in place at the same time last year, and 61 basis points above last... Read More »