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Articles Filed Under: Breaking News

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Index for Bay Area House Values Up 18.2 Percent

Index for Bay Area House Values Up 18.2 Percent

Having gained 3.3 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 and Peninsula – ticked up another 2.6 percent in May and is now up 18.2 percent on a year-over-year basis,... Read More »

New Home Inventory in the U.S. Is Nearing a 13-Year High

New Home Inventory in the U.S. Is Nearing a 13-Year High

The seasonally adjusted pace of new single-family home sales in the U.S. dropped 6.6 percent in June to an annualized rate of 676,000 sales, which is 19.4 percent lower than at the same time last year, down 31.9 percent since the start of this year and the slowest pace... Read More »

Rebound in S.F. Rents Slows, Still Down Over 20 Percent

Rebound in S.F. Rents Slows, Still Down Over 20 Percent

Having rebounded a combined 6 percent in May and June, the weighted average asking rent for an apartment in San Francisco has since ticked up around (1) percent to $3,275 per month. As such, the average asking rent for an apartment in the city is still over 20 percent... Read More »

Benchmark Mortgage Rate Drops, Nearing an All-Time Low

Benchmark Mortgage Rate Drops, Nearing an All-Time Low

Having inched down to a five-month low last week, the average rate for a benchmark 30-year mortgage has since dropped another 10 basis points (0.10 percentage points) to 2.78 percent, which is 23 basis below its mark at the same time last year and within 13 basis points of... Read More »

Inventory Inches Up in S.F., Price Per Square Foot Down

Inventory Inches Up in S.F., Price Per Square Foot Down

With the number of homes that were listed for sale in San Francisco over the past week having outpaced the number of purchase contracts that were written, the net number of homes on the market in the city ticked up 2 percent to 990, representing 28 percent fewer listings... Read More »

Office Vacancy Rate in San Francisco Ticks Over 20 Percent

Office Vacancy Rate in San Francisco Ticks Over 20 Percent

With all COIVD-era restrictions on office building occupancy rates having been eliminated last month, the effective office vacancy rate in San Francisco has ticked up to 20.1 percent, representing over 17 million square feet of vacant office space, with 7.76 million square feet of space which is technically leased... Read More »

Former Building Commission President Indicted

Former Building Commission President Indicted

While the former president of San Francisco’s Building Inspection Commission, Rodrigo Santos, has been indicted for bank fraud, as charged last year, the City Attorney’s investigation into permitting, inspection and contracting abuses within the Department of Building Inspection and SFPUC is still going strong. As we first reported back... Read More »

Index for Bay Area House Values Jumps, Up 15.1 Percent YOY

Index for Bay Area House Values Jumps, Up 15.1 Percent YOY

Having climbed 3.3 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 another 3.1 percent in April. And as such, the Bay Area index is now up... Read More »

Eviction Moratoriums Extended [UPDATED]

With over 6 million households in the U.S. still in arrears on their rents, the Centers for Disease Control and Prevention has just extended the federal moratorium on evictions, which was slated to expire at the end of this month, through July 31, 2021, noting that this is intended... Read More »

Pace of Existing Home Sales Drops to an 11-Month Low

Pace of Existing Home Sales Drops to an 11-Month Low

Having slipped another 0.9 percent in May, the seasonally adjusted pace of existing-home sales across the U.S. has dropped to an annual rate of 5.80 million sales, which was 44.6 percent higher than in May of 2020, when pandemic-driven stay home orders were still widespread, but down 15.3 percent... Read More »