Articles Filed Under: Breaking News

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Rents in San Francisco Drop Even More, But…

Rents in San Francisco Drop Even More, But…

Having slipped to just under $3,600 last month, the weighted average asking rent for an apartment in San Francisco has since dropped another 5 percent to $3,425, which is now down 20 percent on a year-over-year basis and 23 percent below a 2015-era peak, driven by a sharp increase... Read More »

Bay Area Employment Still Down by 400K, Labor Force Dropping

Bay Area Employment Still Down by 400K, Labor Force Dropping

While the estimated number of people living in San Francisco with a paycheck increased by 5,900 in August to 515,900, the labor force shrank by 7,800 to 565,700 for an unemployment rate of 8.8 percent (versus 9.4 percent at the height of the Great Recession). As such, while employment... Read More »

Asking Rents in Oakland Drop, Listings Jump

Having slipped last month, which shouldn’t have caught any plugged-in readers by surprise, the weighted average asking rent for an apartment in Oakland has since dropped nearly 5 percent to a little under $2,500 a month, which is now down over 13 percent since the end of last year... Read More »

Short-Term Rental Restrictions Will Be Lifted Monday [UPDATED]

In addition to allowing salons, barber shops, gyms, and massage/tattoo parlors to reopen with limited capacities on Monday, September 14, restrictions on (registered) short-term rentals and hotels in San Francisco will be lifted as well. Indoor museums, zoos, and aquariums that have implemented a health and safety plan will... Read More »

Benchmark Mortgage Rate Hits a New Low, Inversion Spreads

Benchmark Mortgage Rate Hits a New Low, Inversion Spreads

Having shed 7 basis points over the past week, the average rate for a benchmark 30-year mortgage has dropped to a new all-time low of 2.86 percent, which is 70 basis points below its mark at the same time last year and 2 basis points below its previous low... Read More »

Number of Homes for Sale in San Francisco Poised to Jump

Number of Homes for Sale in San Francisco Poised to Jump

Having effectively plateaued over the past couple of weeks at above recession-era levels, the number of homes on the market in San Francisco, net of all new sales and contract activity, has ticked up to 1,600, which is twice as many homes on the market than there were at... Read More »

Moratorium on Pandemic Related Evictions Extended Again

Moratorium on Pandemic Related Evictions Extended Again

As we outlined in June: 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 »

Rents in S.F Continue To Drop, Now Down Over 20% From Peak

Rents in S.F Continue To Drop, Now Down Over 20% From Peak

Having slipped to just under $3,600 a month two weeks ago, the weighted average asking rent for an apartment in San Francisco has since ticked down another percent to $3,550, continuing a sharp downward trend which shouldn’t have caught any plugged-in readers by surprise. As such, the average asking... Read More »

Index for Bay Area Home Values Slips Despite Nationwide Gains

Index for Bay Area Home Values Slips Despite Nationwide Gains

Having slipped in May despite nationwide gains, 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 – slipped another 0.6 percent in June, versus an average increase of 0.6 percent nationwide, and the... Read More »

Skyline-Defining Plans for Hearst Parking Center Site

Skyline-Defining Plans for Hearst Parking Center Site

Plans to raze the 11-story Hearst Parking Center complex at 45-53 Third Street, which extends all the way to Annie and currently provides “a pleasant and safe place to park” for up to 800 cars, along with a car wash and California Pizza Kitchen, are in the works. And... Read More »