Articles Filed Under: Trends

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Pace of Home Sales in San Francisco Still Down

Having hit its pandemic driven nadir at the end of April, when pending home sales were down nearly 50 percent on a year-over-year basis in San Francisco, the pace of sales started to rebound in mid-May. But the current pace of contract signings is still down over 20 percent... Read More »

Number of Homes for Sale in San Francisco Continues to Tick Up

While the pace of home sales in San Francisco has started to rebound, new listing activity continues to outpace the number of new purchase contracts being written. As such, the number of homes listed for sale across the city, net of new sales, ticked up another 7 percent over... Read More »

Asking Rents in San Francisco and Oakland Are Down

Asking Rents in San Francisco and Oakland Are Down

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 has dropped around 4 percent since the end of February to $3,950 a month, which is down over 7 percent on a year-over-year basis and... Read More »

Pending Home Sales Down Nearly 34 Percent Nationwide

Pending Home Sales Down Nearly 34 Percent Nationwide

Having already dropped over 20 percent in March, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, dropped another 21.8 percent in April to 69.0 and is now running 33.8 percent its mark at the same... Read More »

Benchmark Mortgage Rate Drops to a New All-Time Low

Benchmark Mortgage Rate Drops to a New All-Time Low

Having inched down last week, the average rate for a benchmark 30-year mortgage has since shed another 9 basis points (0.09 percentage points) to 3.15 percent which is 8 basis points below its previous all-time low of 3.23 percent and 84 basis points below its mark at the same... Read More »

Pace of New Home Sales Holds with a Sales Price Drop

Pace of New Home Sales Holds with a Sales Price Drop

Having dropped (an upwardly revised) 13.7 percent in March, the pace of new single-family home sales in the U.S. was effectively unchanged in April (up 0.6 percent), for a seasonally adjusted annual rate of 623,000 sales (which is 6.2 percent lower than at the same time last year). But... Read More »

Index for Bay Area Home Values Hits a New High, But…

Index for Bay Area Home Values Hits a New High, But…

Having ticked up an upwardly revised 1.2 percent in February, 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 – ticked up nearly two (1.8) percent in March to a new all-time high.... Read More »

Nearly 50 Percent More Homes on the Market in San Francisco

Having jumped to a 9-year seasonal high last week, the number of homes on the market in San Francisco has since ticked up another 5 percent to 870, representing 45 percent more inventory than at the same time last year, driven by a dramatic slowdown in sales activity over... Read More »

Bay Area Unemployment Hits 13 Percent, Labor Force Shrinks

Bay Area Unemployment Hits 13 Percent, Labor Force Shrinks

Based on employment data through the second week of April, at which point the ongoing impact of the COVID-19 pandemic was still picking up steam, the estimated number of San Francisco residents with a paycheck has dropped by nearly 92,000 over the past two months to 482,100 and the... Read More »

Bay Area Unemployment Claims Continue to Climb

Bay Area Unemployment Claims Continue to Climb

Having already rocketed to over 44,300 in March, versus having averaged around 3,500 a month over the previous six years, the number of San Francisco residents that filed a new/initial unemployment claim climbed to over 57,500 in April, for a total of nearly 110,000 initial claims for San Francisco... Read More »