Articles Filed Under: Real Estate Economics

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Bay Area Employment Drops along with Unemployment Rates

Bay Area Employment Drops along with Unemployment Rates

Having recorded an above-average bump in seasonal hires in July, the number of people residing in San Francisco with a job dropped by 3,000 over the past month to 557,200. But with the labor force having dropped by 3,300 to 570,900, the employment rate in the city dropped from... Read More »

Benchmark Mortgage Rate Effectively Hits a Seven-Year High

Benchmark Mortgage Rate Effectively Hits a Seven-Year High

The average rate for a benchmark 30-year mortgage ticked up another 5 basis points over the past week to 4.65 percent, which is 82 basis points above its mark at the same time last year and within 1 basis points of the seven-year high rate of 4.66 percent which... Read More »

Sixth Straight Year-Over-Year Decline for Existing U.S. Home Sales

Having dropped 4.6 percent since the end of the first quarter, the seasonally adjusted pace of existing-home sales across the U.S. held at an annual rate of 5.34 million sales in August, which is 1.5 percent lower versus the same time last year and the sixth year-over-year decline in... Read More »

Asking Rents in SF and Oakland Ticked Up but Didn’t Peak in Q3

Asking Rents in SF and Oakland Ticked Up but Didn’t Peak in Q3

Having ticked up a little over one (1) percent from the second to third quarter of this year, the weighted average asking rent for an apartment in San Francisco – including one-off rentals as well as those in larger developments such as 150 Van Ness above – is now... Read More »

Whitewashed Victorian Fetches $250K More

Whitewashed Victorian Fetches $250K More

Purchased for $2.55 million last year, the “Exceptional Eureka Valley Home” at 3751-3753 17th Street, which had been “lovingly curated” by the same owner for over 40 years, was subsequently remodeled and its ornate detailing and original woodwork was whitewashed. Sporting two new kitchens and baths, the 3,100-square-foot duplex... Read More »

Inventory of Homes for Sale in San Francisco Hits 7-Year High

Inventory of Homes for Sale in San Francisco Hits 7-Year High

Following a trend which shouldn’t catch any plugged-in readers by surprise, the number of homes actively listed for sale in the San Francisco (900) has just hit a 7-year high and is now running 12 percent higher on a year-over-year basis and 30 percent above its mark at the... Read More »

Mortgage Rates Rise, Largest YOY Increase since 2014

Mortgage Rates Rise, Largest YOY Increase since 2014

The average rate for a benchmark 30-year mortgage ticked up another 6 basis points over the past week to 4.6 percent, which is 82 basis points above its mark at the same time last year, which is the largest year-over-year (YOY) increase since May of 2014, and within 6... Read More »

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

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

The average rate for a benchmark 30-year mortgage inched up 2 basis points over the past week to 4.54 percent, which is 76 basis points above its average rate of 3.88 percent at same time last year and within 12 basis points of its seven-year high (4.66 percent) which... Read More »

Record Pipeline of Development in San Francisco Continues to Grow

Record Pipeline of Development in San Francisco Continues to Grow

With the number of newly proposed units of housing to be built in San Francisco having outpaced the number of units that recently finished up construction for the third quarter in a row, the overall pipeline of apartments and condos under development in San Francisco increased by 1,800 in... Read More »

Benchmark Mortgage Rate Hovering Around 4.5 Percent

Benchmark Mortgage Rate Hovering Around 4.5 Percent

Having bounced around a narrow 15 basis point band over the past four months, the average rate for a benchmark 30-year mortgage has been hovering around 4.5 percent over the past couple of weeks, which is 70 basis points above its 3.82 percent average rate at same time last... Read More »