Articles Filed Under: Trends

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New U.S. Home Sales Suddenly Drops Despite More Inventory

New U.S. Home Sales Suddenly Drops Despite More Inventory

Despite a 12.3 percent downward revision to the estimated number of new U.S. homes sold in May, the largest downward revision on record, the seasonally adjusted annual pace of new single-family home sales in the U.S. fell to 406,000 in June, down 8.1 percent from May’s revised pace of 442,000 and 11.5 percent lower versus Read More »

San Francisco Will Miss Its Affordable Housing Allocation By A Mile

San Francisco Will Miss Its Affordable Housing Allocation By A Mile

As was long ago determined by the California Department of Housing and Community Development (HCD) and the regional Association of Bay Area Governments (ABAG), in order to meet the growing demand for housing in San Francisco, the City was given a goal of building 31,193 housing units between 2007 and 2014, its Regional Housing Needs Read More »

Office Rents In San Francisco Up 81% Since 2010, And Climbing

Office Rents In San Francisco Up 81% Since 2010, And Climbing

There is over 4 million square feet of office space under development in San Francisco, the largest pipeline of commercial space in over thirty years.  That being said, the majority of that pipeline won’t be ready for occupancy until post-2015 and over half has already been speculatively pre-leased by companies such as Salesforce and LinkedIn. Read More »

Existing U.S. Home Sales Tick Up But Remain Lower Than Last Year

The seasonally adjusted pace of existing-home sales in the U.S. increased 2.6 percent from May to June and reached an annual pace of 5 million sales for the first time since October 2013. That being said, the pace of existing-home sales remains 2.6 percent lower on a year-over-year basis while the inventory of unsold homes is Read More »

Record Employment In SF: 60K More Paychecks Than 4 Years Ago

Record Employment In SF: 60K More Paychecks Than 4 Years Ago

While the unemployment rate in San Francisco ticked up from 4.4 percent to 4.6 percent last month as the size of the city’s labor force grew, the number of San Francisco residents with jobs increased by 700 and employment in San Francisco has hit a new all-time high. According to California’s Employment Development Department, the Read More »

San Francisco Median Home Price Hits Record Million Dollar Mark

San Francisco Median Home Price Hits Record Million Dollar Mark

While Bay Area home sales were relatively flat in June (up 0.2 percent year-over-year and month-over-month), and listed home sales in San Francisco were down nine percent, recorded home sales in San Francisco were up 6.4 percent versus the year before as a backlog of sales in new developments continued to close escrow. That being said, Read More »

San Francisco Rents Rise, Oakland Rents Rocket

The average asking rent for an apartment in the Bay Area increased to $2,158 a month in the second quarter of 2014, up 10.3 percent versus the second quarter of 2013. While San Francisco remains the most expensive Bay Area market with an average asking rent of $3,229 per month, up 9.4 percent over the Read More »

Inventory Reality Check: Ticking Up In San Francisco

The number of homes listed for sale in San Francisco has been ticking up since the beginning of the year and is currently within two (2) percent of the inventory at the same time last year.  In fact, the number of condos currently listed for sale in San Francisco is now higher by one (1) Read More »

Mortgage Rates Holding, Remain Lower Year-Over-Year

The average rate for a conforming 30-year mortgage ticked up to 4.15 percent over the past week and remains 43 basis points below the three-year high rate of 4.58 percent recorded this past August, 36 basis points lower than at the same time last year when rates spiked following comments from the Fed. The 30-year fixed mortgage Read More »

International Buyer Trends And Interest In San Francisco

International Buyer Trends And Interest In San Francisco

The total sales volume of U.S. real estate to international buyers increased to $92.2 billion over the past year, up an estimated 35 percent and representing roughly 7 percent of the total existing home sales market.  Florida remains the destination of choice, claiming a 23 percent share of all foreign purchases. California comes in second Read More »

Pending Home Sales Surge But Remain Lower Than Last Year

While the National Association of Realtors Pending Home Sales Index surged 6.1 percent from April to May, the largest month-over-month gain since April of 2010, the index remains 5.2 percent lower on a year-over-year basis. At the same time, the inventory level of homes for sale across the U.S. increased 8.6 percent and is running Read More »

Mortgage Rates Tick Down, Now Lower Than Last Year

The average rate for a conforming 30-year mortgage ticked down to 4.14 percent over the past week, 44 basis points below the three-year high rate of 4.58 percent recorded this past August and 32 basis points lower than at the same time last year when rates spiked following comments from the Fed. The 30-year fixed Read More »

New Single-Family Home Sales Jumped In May

The seasonally adjusted annual pace of new single-family home sales in the U.S. rose to 504,000 in May, up 18.6 percent from the revised pace of 425,000 as measured in April and 16.9 percent higher versus the same time last year. That being said, the pace of sales for new single-family homes in the U.S. as measured in May Read More »

Freddie Mac: San Francisco Housing Market Is Weak.  Here’s Why

Freddie Mac: San Francisco Housing Market Is Weak.  Here’s Why

According to Freddie Mac’s “Multi-Indicator Market Index,” the U.S. housing market remains weak despite improving employment, declining delinquencies, attractive mortgage rates and home price gains, but conditions have improved year-over-year. Of the top 50 metropolitan areas in the U.S., only San Antonio, Houston, Austin, and New Orleans were considered to be stable markets. Ranked in Read More »

Top Tier San Francisco Home And Condo Values Hit All-Time High

Top Tier San Francisco Home And Condo Values Hit All-Time High

Single-family home values within the San Francisco MSA are 18.2 percent higher on a year-over-year basis and the index for the top-tier of San Francisco homes has hit an all-time high, according to the S&P/Case-Shiller Home Price Index. That being said, while all three tiers of the market advanced and the overall San Francisco Index increased Read More »