Articles Filed Under: Trends

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Net Absorption of Office Space in San Francisco Has Dropped

Net Absorption of Office Space in San Francisco Has Dropped

Having slipped a nominal $0.11 per square foot (0.1 percent) in the first quarter of 2017, the average asking rent for office space in San Francisco inched up $0.50 per square foot (0.6 percent) in the second quarter of the year to an all-time high of $70.16 per square... Read More »

Inventory of Homes for Sale in S.F. Appears to Have Plateaued

Inventory of Homes for Sale in S.F. Appears to Have Plateaued

With supply (new listings) roughly even with demand (sales) over the past three months, the number of single-family homes and condos currently listed for sale in San Francisco now totals 593, which is 3.6 percent lower than at the beginning of April and 26.2 percent lower than at the... Read More »

Benchmark Mortgage Rate Ticks Up to 3.96%

Benchmark Mortgage Rate Ticks Up to 3.96%

Having held relatively steady since the Fed’s rate hike a few weeks ago, the average rate for a benchmark 30-year mortgage ticked up 8 basis points over the past week to 3.96 percent, which is 55 basis points above the 3.41 percent average rate at the same time last... Read More »

Pending U.S. Home Sales Slip for Third Month in a Row

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 0.8 percent in May to an above average 108.5 but is running 1.7 percent lower than the same time last year. In the... Read More »

Indexes for Bay Area Home and Condo Values Hit New Highs

Indexes for Bay Area Home and Condo Values Hit New Highs

Having ticked up an upwardly revised 1.1 percent in March, 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 1.5 percent in April and the index for area condos gained... Read More »

Bay Area Home Sales (Mostly) Rebounded in May

Bay Area Home Sales (Mostly) Rebounded in May

Having dropped a downwardly revised 13.0 percent in April, the number of single-family homes and condos that traded hands in San Francisco rebounded 17.2 percent to 560 in May, which is 9.8 percent higher versus the same time last year as compared to 18.0 percent lower on a year-over-year... Read More »

New Home Sales in the U.S. Rebound but Remain below Average

Having shed 11.4 percent in April, the seasonally adjusted rate of new single-family home sales in the U.S. rose 2.9 percent in May to an annual rate of 610,000 sales and is running 8.9 percent above the pace of sales at the same time last year. That being said,... Read More »

Benchmark Mortgage Rate Holds Post Hike

Benchmark Mortgage Rate Holds Post Hike

With the probability of the Fed’s rate hike last week already priced in, the average rate for a benchmark 30-year mortgage barely moved over the past seven days, dropping one (1) basis point to an average rate of 3.90 percent and to within one (1) basis point of the... Read More »

Existing U.S. Home Sales Tick Up, Median Price Hits New High

Having slipped 2.3 percent in April, the pace of existing-home sales in the U.S. ticked up 1.1 percent in May to a seasonally adjusted annual rate of 5.62 million transactions, which is 2.7 percent above the pace at the same time last year. In addition, the median price of... Read More »

Pricing for New Condos in S.F. Slips along with Sales and Inventory

Pricing for New Condos in S.F. Slips along with Sales and Inventory

While sales activity for new condos in San Francisco doubled from April to May with seasonality in play, versus tripling from April to May last year, the number of purchase contracts signed last month (73) was 36 percent lower on a year-over-year basis, according to sales data from The... Read More »