Articles Filed Under: Real Estate Economics

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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 »

San Francisco Home Sales and Median Price Slip as Bay Area Gains

San Francisco Home Sales and Median Price Slip as Bay Area Gains

While the number of single-family homes and condos that traded hands in San Francisco last month jumped 44.5 percent from an upwardly revised 346 in February to 500 in March with typical seasonality in play, the volume was 5.3 percent lower on a year-over-year basis versus a 7.9 percent... Read More »

Employment in San Francisco Dropped in Q1

Employment in San Francisco Dropped in Q1

With the number of people living in San Francisco with a job pegged at 543,900 last month, a nominal 200 higher than the month before, employment in the city has dropped by 3,300 in the first quarter of the year versus gaining 6,900 in the first quarter of 2016,... Read More »

New S.F. Condo Sales Slipped in March but Jumped Year-Over-Year

While the number of purchase contracts signed for new condominiums in San Francisco slipped 4 percent from February to March, the sales volume in March (91) was more than twice the volume at the same time last year (39) but with a number of new sales offices having opened... Read More »