Fraudster’s Luxuriously Crafted Townhome Forfeited, Reduced
Purchased by a former Cisco Executive for $3.5 million in 2016 with funds that appear to have been acquired by way of an illegal kickback scheme, the 2,888-square-foot townhome unit…
Buyer Pool Shrinks, Pending Home Sales in the U.S. Down 20 Percent
Having inched up 0.7 percent in May, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, dropped…
Benchmark Mortgage Rate Drops. Yes, Drops
Measured prior to yesterday’s announcement of another 75 basis point hike to the federal funds rate, the average rate for a benchmark 30-year mortgage had dropped 24 basis points (0.24…
The Fed Abides, Hikes Rates Another 75 Bips
As projected, the Federal Reserve has just announced another rate hike of 75 basis points or three-quarters of a percent for federal funds, its second 75 basis point hike in…
Pace of New Home Sales Drops, Median Sale Price Too
Having ticked up a downwardly revised 6.3 percent in May, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.3 percent in June to an annualized…
Pending Home Sales in San Francisco Down Over 30 Percent
As we outlined earlier this week, the recent decline in listed inventory levels in San Francisco is being driven by a slowdown in new listing activity versus an increase in…
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Index for Bay Area House Values Inches Up, YOY Gains Drop
Having ticked up 2.2 percent in April, 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…
Number of Homes for Sale in S.F. Peaks, Reductions Rise
Driven by a slowdown in new listing activity rather than an uptick in sales, the net number of homes on the market in San Francisco (i.e., inventory) dropped 9 percent…
Bay Area Employment Slipped Last Month, the Labor Force Too
Having inched up by an upwardly revised 1,800 in May, the net number of people living in San Francisco with a paycheck slipped by 3,000 in June to 553,800. And…
Construction of Prominent Hub District Tower Has Commenced
With the prominent Hub District site having been completely cleared, which is a departure from what was originally planned, construction on the 47-story tower to rise up to 540 feet…