Articles Filed Under: Trends

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Pace of Existing Home Sales in the U.S. Drops, Inventory Increases

Having slipped an upwardly revised 0.7 percent in May, the pace of existing-home sales across the U.S. dropped another 0.6 percent in June to a seasonally adjusted annual rate of 5.38 million sales which is 2.2 percent lower versus the same time last year. At the same time, the... Read More »

Bay Area Employment Slips, San Francisco Nears Negative Growth

Bay Area Employment Slips, San Francisco Nears Negative Growth

The unemployment rate in San Francisco jumped from 2.1 to 2.7 percent in June as the number of people living in the city with a job dropped by 1,600 to 550,600 while the labor force increased by 1,600 to 565,600. And while there are still 113,900 more people living... Read More »

50 Percent More Homes on the Market in San Francisco versus 2015

50 Percent More Homes on the Market in San Francisco versus 2015

While having slipped 6 percent over the past month with typical seasonality in play, the number of single-family homes and condos actively listed for sale in San Francisco has ticked up 9 percent over the past two weeks to 650, which is 3 percent higher on a year-over-year basis... Read More »

Complaints Related to Illegal Airbnb-Ing in S.F. Continue to Drop

Complaints Related to Illegal Airbnb-Ing in S.F. Continue to Drop

Having peaked in the second quarter of 2016, the quarter in which San Francisco drafted a new short term rental law which was finally implemented last year, the number of formal complaints related to illegal short-term rental activity in San Francisco totaled around 80 in the second quarter of... Read More »

Mortgage Rates Inch up along with Probability of Next Rate Hike

Mortgage Rates Inch up along with Probability of Next Rate Hike

The average rate for a benchmark 30-year mortgage inched up a single (1) basis points over the past week to 4.53 percent, which is 50 basis points higher on a year-over-year basis and within 13 basis points of its seven-year high of 4.66 percent which it hit in May,... Read More »

Rents Tick Up along with Delivery of New Office Buildings in SF

Rents Tick Up along with Delivery of New Office Buildings in SF

With 1.3 million square feet of new office space having been delivered over the past quarter, all of which was pre-leased and instantly absorbed, included The Exchange at 16th (Dropbox) and the tower at 181 Fremont Street (Facebook), the average asking rent for office space in San Francisco ticked... Read More »

Benchmark Mortgage Rate Slips, Short-Term Rate Inches Up

Benchmark Mortgage Rate Slips, Short-Term Rate Inches Up

The average rate for a benchmark 30-year mortgage slipped 2 basis points over the past week to 4.55 percent but remains 67 basis points higher on a year-over-year basis and within 11 basis points of the seven-year high of 4.66 percent it hit last month, according to Freddie Mac’s... Read More »

Pending Home Sales in the U.S. Slip While Inventory Ticks Up

Pending Home Sales in the U.S. Slip While Inventory Ticks Up

Having dropped 1.3 percent in April, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, slipped another 0.5 percent in May to 105.9, which is now 2.2 lower on a year-over-year basis overall and 5.7 percent below last year’s high... Read More »

Asking Rents in San Francisco and Oakland Tick Up

Asking Rents in San Francisco and Oakland Tick Up

Having ended last year lower than where they started, asking rents for apartments in San Francisco have since ticked up nearly 6 percent since the beginning of the year. But once again, the majority of said gain can be attributed to normal seasonality. In fact, based on a comparison... Read More »

A Six-Figure Salary Is NOT ‘Low Income’ in San Francisco

A Six-Figure Salary Is NOT ‘Low Income’ in San Francisco

Despite making for a shocking headline, a “six-figure salary” is not actually considered “low income” for residents of San Francisco. Yes, for a household of four in the city, a total household income below $117,400 is considered “low income” per the U.S. Department of Housing and Urban Development, the... Read More »