Articles Filed Under: Real Estate Economics

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Asking Rents in San Francisco and Oakland Drop, Listings Up

Asking Rents in San Francisco and Oakland Drop, Listings Up

Having already started to slip earlier this year, prior to the COVID-19 hit, the weighted average asking rent for an apartment in San Francisco dropped around 2 percent in March to $4,000 a month, which is around 1 percent lower on a year-over-year basis and 10 percent below its... 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 »

Index for Bay Area Home Values Started the Year With a Slip

Index for Bay Area Home Values Started the Year With a Slip

Having ended last year up 2.1 percent on a year-over-year basis but 1.3 percent below peak, 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 0.5 percent in January, which... Read More »

Inventory Levels and Sales Continue to Drop in San Francisco

Having plummeted 40 percent last week, the number of homes on the market in San Francisco has since dropped another 14 percent to 390, which isn’t zero but is 37 percent fewer than at the same time last year, driven by a combination of listings being withdrawn from the... Read More »

Pending Home Sales Activity in the U.S. Was Up Last Month

Pending Home Sales Activity in the U.S. Was Up Last Month

Having rebounded 5.2 percent in January, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, ticked up another 2.4 percent in February to 111.5, which was 9.4 percent above its mark at the same time last... Read More »

Bay Area Employment Held Last Month, But…

Bay Area Employment Held Last Month, But…

Having been downwardly revised by the State at the start of the year, the estimated number of people living in San Francisco with a paycheck inched up by 1,100 in February to 574,100, which was 7,400 more employed residents than at the same time last year, with an unemployment... 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 »

Pace of New Home Sales in the U.S. Dropped Last Month

While trending up at the beginning of the year, the pace of new single-family home sales in the U.S. dropped 4.4 percent in February, prior to the impact of COVID-19 having taken hold, to a seasonally adjusted annual rate of 765,000 sales but remained 14.3 percent higher than at... 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 »

High-End Loft Just Fetched a Mid-2015 Price, But…

High-End Loft Just Fetched a Mid-2015 Price, But…

As we outlined back in January, just two months ago: Purchased for $1.85 million in mid-2015, the remodeled two-bedroom, 1,565-square-foot unit #216 in the Oriental Warehouse building at 650 Delancey Street (“the premier historic live/work loft conversion building located in San Francisco’s hip South Beach neighborhood”) returned to the... Read More »