Articles Filed Under: Breaking News

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Benchmark Mortgage Rate Just Hit a New All-Time Low

Benchmark Mortgage Rate Just Hit a New All-Time Low

Having slipped back under 3 percent last week, the average rate for a benchmark 30-year mortgage has dropped another 11 basis points to 2.88 percent, which is 72 basis points below its mark at the same time last year and a new all-time low, according to Freddie Mac’s latest... Read More »

Recession-Era Inventory Levels Hit San Francisco

Recession-Era Inventory Levels Hit San Francisco

Having hit a 10-year seasonal high last week, the number of homes on the market in San Francisco, net of new sales and contract activity, has ticked up another 3 percent to 1,470, representing 150 percent more homes on the market than at the same last year (580) and... Read More »

Asking Rents in San Francisco Continue to Drop, Listings Spike

Asking Rents in San Francisco Continue to Drop, Listings Spike

In a move that shouldn’t catch any plugged-in readers by surprise, the weighted average asking rent for an apartment in San Francisco has dropped another 4 percent over the past few weeks and is now down to $3,700 a month. While $3,700 a month isn’t exactly “cheap,” it’s nearly... Read More »

Moratorium on Pandemic Related Evictions Extended

Moratorium on Pandemic Related Evictions Extended

As we outlined last month: The temporary moratorium on the eviction of tenants in San Francisco for the non-payment of rent from April through July, if formally documented as being due to the COVID-19 pandemic, has effectively been made permanent by San Francisco’s Board of Supervisors. While the ordinance... Read More »

Number of Homes for Sale in S.F. Just Hit a 10-Year High

Number of Homes for Sale in S.F. Just Hit a 10-Year High

The number of homes on the market in San Francisco, net of new sales and contract activity, ticked up another 4 percent over the past week to 1,420, representing 120 percent more inventory than there was at the same last year and a 10-year seasonal high. At a more... Read More »

Pace of New Home Sales in the U.S. Rebounded in June

Pace of New Home Sales in the U.S. Rebounded in June

The seasonally adjusted pace of new single-family home sales in the U.S. rebounded from the pandemic-driven hits the market took in March and April (at which point the annualized pace was down 14.0 percent versus the same time last year) and climbed to an annualized rate of 776,000 sales... Read More »

Number of Homes for Sale Nearing Recession-Era Levels in S.F.

Number of Homes for Sale Nearing Recession-Era Levels in S.F.

Continuing a trend which shouldn’t catch any plugged-in readers by surprise, the number of homes on the market in San Francisco, net of new sales and contract signings, ticked up another 6 percent over the past week to 1,360, which is now over twice as much inventory as there... Read More »

114,000 Bay Area Residents Returned to Work Last Month, But…

114,000 Bay Area Residents Returned to Work Last Month, But…

While an estimated 16,000 San Francisco residents were either newly hired or returned to work last month, for a total of 499,100 employed, there are still 74,800 fewer employed people in the city than there were prior to the pandemic and 66,300 fewer than at the same time last... Read More »

Benchmark Mortgage Rate Drops Below 3 Percent

Benchmark Mortgage Rate Drops Below 3 Percent

Having inched down another 5 basis points (0.05 percentage points) over the past week, the average rate for a benchmark 30-year mortgage now measures an unprecedented 2.98 percent, which is not only 83 basis points below its historically low mark at the same time last year but the first... Read More »

Number of Homes on the Market in San Francisco Spikes

Number of Homes on the Market in San Francisco Spikes

Following a trend which shouldn’t catch any plugged-in readers by surprise, the number of homes on the market in San Francisco, net of new sales and contract signings, has jumped another 10 percent over the past week to 1,290, which is 98 percent more inventory on the market as... Read More »