Having ended 2022 nearing its pre-pandemic peak, the net number of people living in San Francisco with a paycheck dropped by 5,400 in January to 560,600 as the impact of tech layoffs and new unemployment claims started to be realized, based on updated data from the State. That being... Read More »

While the net number of homes on the market in San Francisco has held over the past month and now year-over-year, it’s important to understand that the “holding pattern” is being driven by a sharp drop in the number of condos and single-family homes that are being listed for... Read More »

With all the volatility in the financial markets, the average rate for a benchmark 30-year mortgage ticked down 13 basis points (0.13 percentage points) over the past week to 6.60 percent but remains 244 basis points, or roughly 60 percent, higher than at the same time last year and... Read More »

As indexed by the Mortgage Bankers Association, mortgage credit availability in the U.S. dropped to its lowest level since January of 2013, with “all loan types seeing declines in availability over the month” and the index for Jumbo loan availability having declined the most, driven by an “ongoing trend... Read More »

While 35 percent fewer condos and single-family homes have been newly listed for sale over the past week and month than over the same periods of time last year, the net number of single-family homes and condos on the market (i.e., inventory) is still 2 percent higher, year-over-year; 25... Read More »

Following a trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage ticked up another 8 basis points (0.08 percentage points) over the past week to 6.73 percent, which is 288 basis points and 75 percent higher than at the same time... Read More »

The volume of applications to secure a purchase mortgage loan for a home in the U.S. ticked up 9 percent in the absolute last week, representing a 7 percent increase on a seasonally adjusted basis from a 28-year low. That being said, purchase mortgage activity was still down over... Read More »

Once again, despite a pronounced slowdown in the relative number of condos and single-family homes that have been newly listed for sale over the past three weeks, a slowdown that has been driven by sellers either being unable or unwilling to accept an ongoing drop in values, the net... Read More »

Having dropped to a 28-year low last week, the volume of applications to secure a purchase mortgage loan for a home in the U.S. has since ticked down another 3 percent in the absolute, representing a 6 percent drop on a seasonally adjusted basis, according to data from the... Read More »

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 down another 1.8 percent this past December and is now 4.2 percent lower than at the end of 2021, representing the largest... Read More »