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 »

Home Sales in San Francisco Rebounding but Still Down

Having hit its pandemic driven nadir at the end of last month, when there were nearly 50 percent fewer pending home sales in San Francisco than at the same time last year, the pace of sales has started to rebound. And in fact, new contract activity over the past... 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 »

Plan to Transform Burgeoning Area Approved by Planning

Plan to Transform Burgeoning Area Approved by Planning

As expected, the proposed framework for rezoning San Francisco’s 84-acre Hub District, a burgeoning area which is effectively centered around the intersection of Van Ness and Market, within the City’s Market and Octavia Plan Area, has been adopted by San Francisco’s Planning Commission. In addition to improving and activating... Read More »

Pace of Existing-Home Sales in the U.S. Drops Nearly 18 Percent

Having dropped 8.5 percent in March as the impact of COVID-19 started to take hold, the seasonally adjusted pace of existing-home sales across the U.S. plummeted another 17.8 percent in April to an annual rate of 4.33 million sales, which is down 17.2 percent on a year-over-year basis, according... Read More »

Pandemic Fells the Stud in Western SoMa

Pandemic Fells the Stud in Western SoMa

Founded on Folsom Street back in 1966 and then relocated to the northeast corner of 9th and Harrison in the late 80s, San Francisco’s iconic Stud bar will be relinquishing its lease at the end of this month, hobbled by the pandemic related shutdown and slated to be marked... Read More »