Articles Filed Under: Real Estate Economics

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Mortgage Rates Near a Three-Year High

Mortgage Rates Near a Three-Year High

Measured prior to the Fed’s rate hike yesterday but with the probability already priced in, the average rate for a benchmark 30-year mortgage ticked up another 9 basis points over the past week to 4.30 percent, nearing the 4.32 percent rate in place at the end of last year,... Read More »

The Fed Institutes a Rate Hike, Signals Two More This Year

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

New Condo Pricing Continues to Drop in San Francisco

New Condo Pricing Continues to Drop in San Francisco

While the number of purchase contracts signed for new condominiums in San Francisco quintupled from 18 in January to 95 in February with plenty of seasonality in play, the sales volume was down 25 percent versus the same time last year and is running 7 percent lower over the... Read More »

Mortgage Rates Return to 2017 Highs, Odds of a Rate Hike Rockets

Mortgage Rates Return to 2017 Highs, Odds of a Rate Hike Rockets

The average rate for a benchmark 30-year mortgage ticked up 5 basis points over the past two weeks, an 11 point jump over the past seven days, and is back to a calendar year high of 4.21 percent, according to Freddie Mac’s Primary Mortgage Market Survey. Having jumped 67... Read More »

Demand Really Dropped in San Francisco but Not Around the Bay

Demand Really Dropped in San Francisco but Not Around the Bay

Seeking to rationalize the recent drops in recorded home sales in San Francisco, a lack of inventory, seasonality and changes in the mortgage market which shifted sales at the end of 2015 have all been invoked to explain it away with the wave of a hand. So let’s take... Read More »

Inventory of Homes for Sale in S.F. On the March (Up)

Inventory of Homes for Sale in S.F. On the March (Up)

The number of single-family homes and condos currently listed for sale in San Francisco ticked up 13 percent over the past two weeks to 580, the highest total at the beginning of March since 2012 (at which point there were 718) and 13 percent higher versus the same time... Read More »

Employment in S.F. and the East Bay Just Dropped the Most since 2009

Employment in S.F. and the East Bay Just Dropped the Most since 2009

While the upwardly revised December count of the number of people living in San Francisco with a job ended up adding 1,300 to the employment roll, the January count eliminated 6,900, which is the largest monthly drop in San Francisco employment since January 2009. That being said, there are... Read More »

Price of Renting a Room in SF Has Dropped 12% from Peak

Price of Renting a Room in SF Has Dropped 12% from Peak

With the weighted average asking price of renting an apartment in San Francisco having now dropped over 8 percent since peaking in the fourth quarter of 2015, which brings us back to late 2014 prices, we thought we’d slice the data in a different way. And in fact, if... Read More »

Mortgage Rates Hold, Probability of a Hike in May

Mortgage Rates Hold, Probability of a Hike in May

Having jumped 62 basis points over the past four months to 4.16 percent today, which is 54 basis points above the 3.62 rate in place at the same time last year, the average rate for a benchmark 30-year mortgage has been holding within a narrow 4 basis point range... Read More »

Inventory of Homes for Sale in S.F. Ticks Up Post Presidents Day

Inventory of Homes for Sale in S.F. Ticks Up Post Presidents Day

While slowed by the holiday weekend, the number of single-family homes and condos currently listed for sale in San Francisco ticked up to 510 over the past two weeks, which is 24 percent higher versus the same time last year and the highest post Presidents Day total since 2012... Read More »