Articles Filed Under: Trends

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Record Employment in San Francisco and around the Bay

Record Employment in San Francisco and around the Bay

The number of people living in the city of San Francisco with a job jumped by 6,700 in September to a record 555,200, pushing the unemployment rate back down to 2.9 percent. As such, there are now 89,700 more people living in San Francisco with paychecks than there were... Read More »

Pace of Existing U.S. Home Sales Inches up but Median Price Drops

Having dropped 1.7 percent in August, the pace of existing-home sales in the U.S. inched up 0.7 percent in September to a seasonally adjusted annual rate of 5.39 million transactions but is now 1.5 percent lower than at the same time last year and the second lowest pace in... Read More »

Mortgage Rates on the Move as Odds of a Rate Hike Hold

Mortgage Rates on the Move as Odds of a Rate Hike Hold

The average rate for a benchmark 30-year mortgage ticked up another 6 basis points over the past week to 3.91 percent which is 44 basis points above the 3.47 percent rate in place at the same time last year and 50 basis points above last year’s low of 3.41... Read More »

New Condo Sales and Pricing Slip in San Francisco

New Condo Sales and Pricing Slip in San Francisco

The number of purchase contracts signed for new construction condos in San Francisco dropped 59 percent from August (96) to September (39) but were still 44 percent higher versus the 27 signed in September 2016, according to sales data from The Mark Company. And with an average of 23... Read More »

Odds of a Rate Hike Rocket

Odds of a Rate Hike Rocket

The average rate for a benchmark 30-year mortgage inched up 2 basis points over the past week to 3.85 percent, which is now 43 basis points above the 3.42 percent rate in place at the same time last year and 44 basis points above 2016’s 3.41 percent low, according... Read More »

Indexes for Bay Area Home Values Inch Up

Indexes for Bay Area Home Values Inch Up

Having inched up 0.7 percent in June, 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 0.6 percent in July as did the index for Bay Area condos, lifting each... Read More »

Index for Pending U.S. Home Sales Drops, Forecast Downgraded

Having slipped in July, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, dropped 2.6 percent in August to 106.3 which is 2.6 percent below the same time last year and the lowest reading since January 2016. And with the... Read More »

New Home Sales in the U.S. Slip despite More Inventory

Having dropped an upwardly revised 5.6 percent in July, the seasonally adjusted rate of new single-family home sales in the U.S. slipped another 3.4 percent in August to an annual rate of 560,000 sales which is 1.2 percent below the pace at the same time last year. Last month’s... Read More »

San Francisco Home Sales Take a Hit

San Francisco Home Sales Take a Hit

While the number of single-family homes and condos that traded hands in San Francisco proper only dropped 0.8 percent from 485 in July to 481 in August, the sales volume was down 14.0 percent versus the same time last year and the month-over-month decline was muted by a downward... Read More »

Mortgage Rates Tick Up and Odds of a Hike Jump

Mortgage Rates Tick Up and Odds of a Hike Jump

The average rate for a benchmark 30-year mortgage ticked up 5 basis points over the past week to 3.83 percent, the first real rise in rates since early July. The current average rate is now 35 basis points above the 3.48 percent rate in place at the same time... Read More »