Modern Mixed-Use Infill Project Closer to Reality

Modern Mixed-Use Infill Project Closer to Reality

As we first revealed back in 2018: Plans for a new mixed-use office building to rise on the southwest corner of 3rd and Harrison are in the works. While the 50-car parking lot site is slated to be upzoned for building up to 130 feet in height, per San... Read More »

Pace of New Home Sales Takes a Hit, Plummets Out West

Pace of New Home Sales Takes a Hit, Plummets Out West

Having dropped (a downwardly revised) 4.6 percent in February, prior to the impact of COVID-19 having taken hold, the pace of new single-family home sales in the U.S. dropped another 15.4 percent in March to a seasonally adjusted annual rate of 627,000 sales, which is 9.5 percent lower than... Read More »

Benchmark Mortgage Rate Inches Up, Short-Term Rate Slips

Benchmark Mortgage Rate Inches Up, Short-Term Rate Slips

Having inched down to within 2 basis points (0.02 percentage points) of an all-time low last week, the average rate for a benchmark 30-year mortgage has since inched back up 2 basis points to 3.33 percent, which is still 87 basis points (0.87 percentage points) below its mark at... Read More »

Pending Home Sales Down Nearly 50 Percent in San Francisco

While the number of homes listed for sale in San Francisco has started to tick up, the pace of sales has further declined. As we outlined three weeks ago, the pace of home sales in San Francisco was already “down 20 percent on a year-over-year basis and dropping fast.”... Read More »

Plan to Transform Burgeoning Area Slated for Key Approval(s)

Plan to Transform Burgeoning Area Slated for Key Approval(s)

As we outlined earlier this year: 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 further refined and is being positioned for adoption... Read More »

Legislation to Restrict Demolition of Unaffordable Homes in SF

Intended as a means by which to preserve “relatively affordable, existing housing” in San Francisco, Section 317 of San Francisco’s Planning Code was adopted back in 2008 and requires the specific approval of a Conditional Use (CU) authorization for the demolition or merger of any existing housing which is... Read More »

Pace of Existing-Home Sales Drops, Poised to Plummet

Pace of Existing-Home Sales Drops, Poised to Plummet

Having jumped 6.5 percent in February, prior to the stock market having dropped and the impact of COVID-19 having taken hold, the seasonally adjusted pace of existing-home sales across the U.S. subsequently fell 8.5 percent in March to an annual rate of 5.27 million sales but still managed to... Read More »

Within 3 Percent of 2014 Pricing for a Chic Marina Home

Within 3 Percent of 2014 Pricing for a Chic Marina Home

Having been further updated a bit since it was purchased as an already “perfected” home for $3.31 million in September of 2014, the recent resale of the “chic, light-filled marina home” at 22 Rico Way wasn’t perfectly apples-to-apples. But having returned to the market listed for $3.495 million early... Read More »

Inventory Levels in San Francisco Tick Up, Sales Down

Having held last week, the net number of homes listed for sale in San Francisco (i.e., listed inventory) has since ticked up 17 percent to around 500, which is still 15 percent lower than at the same time last year but up significantly from a 40 percent drop on... Read More »

Bay Area Employment Dropped by at Least 77,000 Last Month

Bay Area Employment Dropped by at Least 77,000 Last Month

Based on employment data through the second week of March, which predates the bulk of the ongoing economic impact caused by COVID-19, the estimated number of people living in San Francisco with a paycheck has already dropped by at least 13,100 to 560,800, representing at least 5,400 fewer employed... Read More »