Articles Filed Under: Trends

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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 »

Price Reductions, and Increases, on the Rise in San Francisco

With new listing activity and inventory levels having plummeted, and the pace of home sales having sharply dropped, the percentage of homes on the market in San Francisco with at least one official price cut – which doesn’t include properties that were withdrawn from the MLS and then re-listed... 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 »

Pace of Existing-Home Sales in the U.S. Was on the Rise

Pace of Existing-Home Sales in the U.S. Was on the Rise

Having slipped 1.3 percent in January, the seasonally adjusted pace of existing-home sales across the U.S. jumped 6.5 percent in February to an annual rate of 5.77 million sales, according to the National Association of Realtors. And as such, the pace of sales was running 7.2 percent higher on... Read More »

Mortgage Rates Spike

Mortgage Rates Spike

Having inched up from an all-time low of 3.29 percent to 3.36 percent last week, the average rate for a benchmark 30-year mortgage has since jumped another 29 basis points (0.29 percentage points) to 3.65 percent but remains 63 basis points below its mark at the same time last... Read More »

Inventory Levels in SF Drop 20 Percent in 3 Days

Having hit a 9-year high at the beginning of the week, prior to the COVID-19 related stay at home order having been issued in San Francisco and the Dow having dropped an additional 15 percent, for a total drop of over 30 percent since mid-February, the number of homes on... Read More »

Million Dollar Reduction Moves Updated Mission Home

Million Dollar Reduction Moves Updated Mission Home

As we outlined last week: Purchased as a 2,000-square-foot property, “in need upgrading,” for $1.31 million in May of 2018, the single-family home at 1160 Florida Street has since been redesigned by Martinkovic Milford Architects, completely renovated (“no stone has been left unturned”) and expanded to 2,800 square feet... Read More »