Articles Filed Under: Breaking News

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Pace of New Home Sales in the U.S. Drops Over 18 Percent

Pace of New Home Sales in the U.S. Drops Over 18 Percent

Having ticked up 3.2 percent in January, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 18.2 percent last month to an annualized rate of 775,000 sales, which is nearly 21 percent below the 14-year high it registered last July/August. That being said, the February... Read More »

Bay Area Employment Actually Dropped Again in January

Bay Area Employment Actually Dropped Again in January

While the unemployment rate in San Francisco inched down from 6.4 percent in December to 6.3 percent in January, prior to the State’s Stay Home Order having been lifted at the end of the month, the drop was once again driven by a reduction in the local labor force... Read More »

COVID Case Rate Drops to a 4-Month Low in San Francisco

COVID Case Rate Drops to a 4-Month Low in San Francisco

Having hit a revised pandemic high of 375 on January 8, the 7-day average number of daily new COVID-19 cases diagnosed in San Francisco has dropped to 52, which is the lowest 7-day average since the end of October, 2020, with a percent positive rate for those who are... Read More »

San Francisco Drops to the “Red” Tier of Risk

San Francisco Drops to the “Red” Tier of Risk

As projected, the COVID-19 related risk level for San Francisco has just been downgraded from “Purple” (Widespread) to “Red” (Substantial), a move which will allow for indoor dining at restaurants and the re-openings of gyms, museums and other indoor attractions, albeit at reduced capacities, as of Wednesday, March 3.... Read More »

Refined Plans and Impact Report for A’s Development Released

Refined Plans and Impact Report for A’s Development Released

The Draft Environmental Impact Report (DEIR) for the Oakland A’s proposed stadium, residential and commercial development to rise on the 50-acre-plus Howard Terminal site has just been released by Oakland’s Planning Department along with a refined set of plans for the proposed development and a few important footnotes and... Read More »

Benchmark Mortgage Rate Hits a Six-Month High

Benchmark Mortgage Rate Hits a Six-Month High

Having inched up 8 basis points (0.08 percentage point) to a three-month high last week, the average rate for a benchmark 30-year mortgage has since jumped another 16 basis points to 2.97 percent, which is the highest average rate in six months. That being said, the average 30-year rate... Read More »

Mortgage Loan Activity Drops

Having slipped earlier this month, mortgage loan activity across the U.S. dropped 10 percent over the past week, with purchase loan activity dropping 8 percent and refinancing activity down 11 percent, according to the Mortgage Bankers Association. That being said purchase activity is still 7 percent higher than at... Read More »

San Francisco Qualifies for “Red” Tier Status [UPDATED]

San Francisco Qualifies for “Red” Tier Status [UPDATED]

With the 7-day average number of daily new COVID-19 cases diagnosed in San Francisco having dropped to 82, which is the lowest 7-day average in over 3 months and nearly 40 percent below the first peak back in July, the city’s adjusted case rate, which takes into account testing... Read More »

Index for Bay Area House Values Holds, Condo Values Slip

Index for Bay Area House Values Holds, Condo Values Slip

Having inched up an upwardly revised 0.9 percent in November, 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 – was unchanged in December, ending the year 8.7 percent higher on a year-over-year... Read More »

Listing Activity for Rentals in San Francisco Drops, But…

Listing Activity for Rentals in San Francisco Drops, But…

As we outlined last week, leasing activity across a sample of ten (10) of the larger apartment buildings we’re tracking in San Francisco has ticked up, driving the average vacancy rate for the cross section of 3,600 units down to around 7.5 percent, driven by aggressive discounting and incentives... Read More »