Articles Filed Under: Trends

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Bay Area Home Sales Drop to a Six-Year Low, Median Price Slips

Bay Area Home Sales Drop to a Six-Year Low, Median Price Slips

While Bay Area home sales typically drop around 6 percent from June to July with normal seasonality in play, the sale volume dropped over 17 percent in 2017, from 9,114 sales in June to 7,534 in July which is down 2.6 percent versus the same time last year and... Read More »

Index for Bay Area Home Values Hits an All Time High

Index for Bay Area Home Values Hits an All Time High

Having gained an upwardly revised 1.0 percent in May, 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 – inched up 0.7 percent in June while the index for Bay Area condos inched... Read More »

Benchmark Mortgage Rate Drops to New 2017 Low

Benchmark Mortgage Rate Drops to New 2017 Low

Having slipped back below 4 percent last month, the average rate for a benchmark 30-year mortgage slipped another 3 basis points over the past week to 3.86 percent which is the lowest average rate this year. At the same time, the current average 30-year rate remains 43 basis points... Read More »

Pace of Existing U.S. Home Sales and Median Price Slip

Having slipped 1.8 percent in June, the pace of existing-home sales in the U.S. slipped another 1.3 percent in July to a seasonally adjusted annual rate of 5.44 million transactions.  And while the current rate is still 2.1 percent higher on a year-over-year basis, it’s the slowest pace this... Read More »

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

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

Having ticked up an upwardly revised 1.9 percent in June, the seasonally adjusted rate of new single-family home sales in the U.S. suddenly dropped 9.4 percent in July to an annual rate of 571,000 sales which is 8.9 percent below the pace of sales at the same time last... Read More »

Rents in San Francisco Lower Than at the Same Time Last Year

Rents in San Francisco Lower Than at the Same Time Last Year

Based on a comparison of over 2,000 listings in San Francisco proper, including one-off rentals as well as units in larger developments, the weighted average asking rent for an apartment in San Francisco is currently running around $4,250 a month ($3,400 for a one-bedroom), which is 1.9 percent below... Read More »

Employment in San Francisco Nearing Negative Growth

Employment in San Francisco Nearing Negative Growth

With a typical influx of summertime residents and workers in play, the number of people living in San Francisco with a job increased by 5,000 in July to 546,600 while the number of unemployed increased by 1,500 to 19,300 which caused the unemployment rate to tick up from 3.2... Read More »

Falling Rents and Returns for a Signature Two-Bedroom with Views

Falling Rents and Returns for a Signature Two-Bedroom with Views

Purchased for $1,550,000 in early 2008, the 1,317-square-foot unit #23D at 301 Main Street, a “signature” two-bedroom unit with Bay Bridge and water views in the first tower of the Infinity, was offered for rent at $6,500 a month in June of 2013, an effective CAP Rate (ROA) of... Read More »

Benchmark Mortgage Rate Ticks down along with Odds of a Hike

Benchmark Mortgage Rate Ticks down along with Odds of a Hike

Having slipped back below 4 percent three weeks ago, the average rate for a benchmark 30-year mortgage inched down another 3 basis points over the past week to 3.90 percent, which is within 2 basis points of this year’s low (3.88 percent) but remains 45 basis points above the... Read More »

Big Cut for Approved Development in the Tenderloin

Big Cut for Approved Development in the Tenderloin

Purchased as an un-entitled Tenderloin parcel for $1.6 million three years ago, plans for an eight-story, market-rate building with 23 sub-500-square-foot residential units to rise on the 430 Eddy Street site were approved by the City early last year. Two months later, the now “Fully Entitled!” site returned to... Read More »