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Articles Filed Under: Breaking News

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Purchase Activity for New Homes Drops Despite (Much) More Inventory

Purchase Activity for New Homes Drops Despite (Much) More Inventory

Despite the fact that the number of new homes on the market across the U.S. is up nearly 35 percent on a year-over-year basis to a 14-year high, mortgage loan application volume to purchase one of said new homes dropped 10 percent from May to June, is down 12... Read More »

Specter of an Even Bigger Rate Hike Looms

Specter of an Even Bigger Rate Hike Looms

Having dropped half a percentage point from its 13-year high of 5.81 percent last month, driven by increasing concerns of a recession and hard landing, the average rate for a benchmark 30-year mortgage has since ticked back up 21 basis points (0.21 percentage points) to 5.51 percent, which is... Read More »

Purchase Mortgage Activity Drops, Average Loan Size as Well

Having inched up from a 22-year low last month, Mortgage loan application volume in the U.S. ticked down 1.7 percent on a seasonally adjusted basis last week, including a 4 percent seasonally adjusted drop in purchase mortgage activity which was down 18 percent versus the same time last year.... Read More »

Number of Homes for Sale in S.F. Up Over 35 Percent YOY

Number of Homes for Sale in S.F. Up Over 35 Percent YOY

With an ongoing slowdown in the pace of sales, the net number of homes on the market in San Francisco ticked up 9 percent over the past week and is up over 35 percent, year-over-year. With the uptick last week, listed inventory in San Francisco is now nearly 70... Read More »

Pending Home Sales in San Francisco Continue to Drop

Despite a marked increase in inventory, which has been up over 30 percent on a year-over-year basis over the past two months, the number of single-family homes and condos in contract across San Francisco dropped another 8 percent over the past two weeks is now down 28 percent on... Read More »

Benchmark Mortgage Rate Drops Over Half a Point, But…

Benchmark Mortgage Rate Drops Over Half a Point, But…

Having hit 5.81 percent two weeks ago, which was the highest average rate since November of 2008 and above-average over the past 30 years, the average rate for a benchmark 30-year mortgage has since dropped 51 basis points (0.51 percentage points) to 5.30 percent with a 40 basis point... Read More »

Number of Homes for Sale in San Francisco Drops, But…

Driven by a typical slowdown in new listing activity prior to a holiday weekend, the net number of homes on the market in San Francisco (a.k.a “inventory”) dropped 10 percent over the past week and currently totals 1,200. That being said, with the pace of home sales in San... Read More »

Premium for Renting in San Francisco Is Ticking Back Up

Premium for Renting in San Francisco Is Ticking Back Up

Having hit $3,500 at the end of May, the weighted average asking rent for an apartment in San Francisco has since ticked up another 2 percent to $3,575 a month, which is 11 percent higher than at the same time last year and 17 percent ($525) above last year’s... Read More »

Index for Bay Area House Values Ticks up 2.2 Percent

Index for Bay Area House Values Ticks up 2.2 Percent

Having jumped a downwardly revised 4.3 percent in March, 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 2.2 percent in April for a year-over-year gain of 22.9 percent versus... Read More »

Over Twice as Many Homes on the Market in S.F. Than in 2019

Over Twice as Many Homes on the Market in S.F. Than in 2019

Despite a slowdown in the number of homes that have been newly listed for sale over the past month, the net number of homes on the market in San Francisco, a.k.a “inventory,” has increased by double digits as the pace of sales has declined even more. As such, there... Read More »