Articles Filed Under: Trends

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Benchmark Mortgage Rate Drops to a Three-Month Low

Benchmark Mortgage Rate Drops to a Three-Month Low

The average rate for a benchmark 30-year mortgage has dropped 18 basis points over the past two weeks to 4.63 percent, which remains 70 basis points above its mark at the same time last year but represents a three-month low, according to Freddie Mac’s latest Mortgage Market Survey data.... Read More »

60 Percent More Homes on the Market in San Francisco

With the holiday slowdown and market seasonality in full swing, the number of homes actively listed for sale in San Francisco has dropped to 715, which is down 25 percent from this past October’s 7-year high in the absolute but 60 percent more than there were at the same... Read More »

‘Ultra-Premium’ Condo in the Mission Resells at a $300K Loss

‘Ultra-Premium’ Condo in the Mission Resells at a $300K Loss

Purchased for $1.625 million in mid-2015, the two-bedroom Mission District condo #205 in the “V20” building at 3590 20th Street, at the corner of Valencia, was on the market for $1.549 million last year but failed to find a buyer despite the $76K (4.7 percent) discount. Having returned to... Read More »

City Attorney Intends to Tag Couple for Affordable Housing Fraud

City Attorney Intends to Tag Couple for Affordable Housing Fraud

Back in 1999, Caroline Novak appears to have fraudulently purchased a below market rate (BMR) condo at 300 Beale Street, having failed to disclose that she already co-owned property in San Mateo which would have disqualified her from participating in San Francisco’s BMR program. Having paid $178,500 for the... Read More »

Pending Home Sales in San Francisco Down 10 Percent

While the number of homes listed for sale in San Francisco is currently running 53 percent higher than at the same time last year, the number of homes in contract is running 10 percent lower. In addition, the average list price per square foot of all the homes in... Read More »

Over 50 Percent More Homes on the Market in San Francisco

While the number of homes actively listed for sale in San Francisco peaked at a 7-year high of around 960 this past October and has since ticked down to 775 with typical seasonality in play, there are now 53 percent more homes on the market than there were at... Read More »

Bay Area Home Sales Rebound to a 7-Year Seasonal Low

Bay Area Home Sales Rebound to a 7-Year Seasonal Low

Having plunged to an 11-year seasonal low in September, the number of single-family homes and condos that traded hands across the greater Bay Area totaled 7,158 in October, up 19.8 percent on a month-over-month basis but 6.5 percent lower versus the same time last year and a mere 7-year... Read More »

Benchmark Mortgage Rate Holding, Odds of a Rate Hike Tick Up

Benchmark Mortgage Rate Holding, Odds of a Rate Hike Tick Up

Having dropped 13 basis points over the past two weeks, the average rate for a benchmark 30-year mortgage is now holding around 4.81 percent, which remains 91 basis points higher than at the same time last year and within 24 basis points of an eight-year high, according to Freddie... Read More »

Pending Home Sales in the U.S. Drop, Well Below Average Out West

Pending Home Sales in the U.S. Drop, Well Below Average Out West

Having inched up 0.5 percent in September, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, declined 2.6 percent in October to 102.1 and is now running 6.7 percent lower on a year-over-year basis and 9.1 percent below last year’s... Read More »

New Home Sales in the U.S. Take a Hit, Inventory Nears 10-Year High

New Home Sales in the U.S. Take a Hit, Inventory Nears 10-Year High

The seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.9 percent in October to an annual pace of 544,000 sales which is 12.0 percent lower on a year-over-year basis and 16.8 percent below the long-term average for this time of the year. At the same... Read More »