Articles Filed Under: Breaking News

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San Francisco’s Housing Pipeline Hits a Record High

San Francisco’s Housing Pipeline Hits a Record High

With the number of newly proposed units of housing to be built in San Francisco having ticked up in the fourth quarter of last year, the number of apartments and condos under development in San Francisco (i.e., the city’s housing pipeline) ended 2019 at a new record high and... Read More »

Pending Home Sales Down Nearly 50 Percent in San Francisco

While the number of homes listed for sale in San Francisco has started to tick up, the pace of sales has further declined. As we outlined three weeks ago, the pace of home sales in San Francisco was already “down 20 percent on a year-over-year basis and dropping fast.”... Read More »

Bay Area Employment Dropped by at Least 77,000 Last Month

Bay Area Employment Dropped by at Least 77,000 Last Month

Based on employment data through the second week of March, which predates the bulk of the ongoing economic impact caused by COVID-19, the estimated number of people living in San Francisco with a paycheck has already dropped by at least 13,100 to 560,800, representing at least 5,400 fewer employed... Read More »

Pending Home Sales Down 40 Percent in San Francisco

As we outlined two weeks ago, the pace of home sales in San Francisco was already “down 20 percent on a year-over-year basis and dropping fast.” And in fact, the number of homes in contract across the city is now down 40 percent versus the same time last year... Read More »

Number of Homes for Sale in San Francisco Ticks Up

Having dropped nearly 50 percent over the previous two weeks, following San Francisco’s initial stay-at-home order having been issued, the number of homes on the market in San Francisco has actually ticked up 11 percent over the past week to 430, driven by an uptick in new listing activity... Read More »

First 30-Year Rate “Inversion” Since 2009

First 30-Year Rate “Inversion” Since 2009

In a move which shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage has dropped another 17 basis points over the past week for an average rate of 3.33 percent, which is now 75 basis points (0.75 percent) below its mark at the... Read More »

Explicit Changes to Local Stay-at-Home Orders

Explicit Changes to Local Stay-at-Home Orders

In addition to extending the existing ‘stay-at-home’ order for Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara counties through May 3, 2020, the revised order explicitly tightens its restrictions in five significant ways (including the shuttering of non-essential construction projects, which includes hotels): (1) When people... Read More »

Bay Area ‘Stay-at-Home’ Order Extended to May

Bay Area ‘Stay-at-Home’ Order Extended to May

The “stay-at-home” order which was issued for the Bay Area on March 16, and was tentatively slated to remain in place until April 7, is proactively being extended to “at least” May 1.  The official announcement will be made tomorrow (3/31). Per the terms of the original order, which... Read More »

Benchmark Mortgage Rate Drops, Short-Term Rate Jumps

Benchmark Mortgage Rate Drops, Short-Term Rate Jumps

Having spiked last week, the average rate for a benchmark 30-year mortgage has since shed 15 basis points for an average rate of 3.50 percent, which is 56 basis points (0.56 percent) below its mark at the same time last year, according to Freddie Mac’s latest Mortgage Market Survey... Read More »

Number of Homes on the Market in SF Plummets 40 Percent

Having dropped 20 percent in the first few days following San Francisco’s stay at home order having been issued, the number of homes on the market in San Francisco has now dropped 40 percent from the 9-year high it briefly hit last week. The sharp reduction in inventory levels... Read More »