San Francisco’s Downtown Rail Extension Is Now “The Portal”
As we outlined last year, the projected $6 billion extension of Caltrain to San Francisco’s new Transit Center, which was based on 2017-era dollars and had been dubbed San Francisco’s…
Benchmark Mortgage Rate Has Doubled, Poised to Climb
With purchase demand for existing homes across the nation having already dropped over 20 percent and the pace of new home sales down nearly 30 percent, year-over-year, driven by a…
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Indexes for Bay Area House and Condo Values Drop
Having inched up 0.9 percent in May, 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 San Francisco Poised to Jump
The net number of homes on the market in San Francisco (i.e., inventory) has effectively held at 1,140 over the past two weeks despite typically dropping over 10 percent at…
Benchmark Mortgage Rate Surges Back Over 5.5 Percent
Having dropped under 5 percent for the first time in four months three weeks ago, the average rate for a benchmark 30-year mortgage has since surged 56 basis points (0.56…
Pace of New Home Sales in the U.S. Has Tanked
Having dropped a downwardly revised 7.3 percent in June, the seasonally adjusted pace of new single-family home sales in the U.S. fell another 12.6 percent in July to an annualized…
Purchase Activity for New Homes in the U.S. Continues to Drop
Despite the fact that the number of new homes on the market across the U.S. is over 30 percent higher than at the same time last year, with the most…
Bay Area Employment Nearly Back to Its Pre-Pandemic Count
Having slipped in June, the net number of people living in San Francisco with a paycheck increased by 9,800 in July to 564,200. As such, there are not only 42,300…
Benchmark Mortgage Rate Jumps Back Over 5 Percent
Having dropped under 5 percent for the first time in four months last week, driven by an “increased risk of a formal recession and declining consumer confidence overall,” the average…
Benchmark Mortgage Rate Plunges Back Under 5 Percent
Despite the Fed’s recent rate hikes, the average rate for a benchmark 30-year mortgage had plunged from 5.81 to 4.99 percent over the past six weeks, including a 31 basis…