Bay Area Unemployment Claims Skyrocket, Over 330K in March
Having averaged a little over 3,500 new claims a month over the past five years, and with a total of around 5,600 individuals in San Francisco having qualified to receive…
San Francisco’s Housing Pipeline Hits a Record High
With the number of newly proposed units of housing to be built in San Francisco having ticked up in the fourth quarter of last year, the number of apartments and…
Pending Home Sales Down Nearly 50 Percent in San Francisco
While the number of homes listed for sale in San Francisco has started to tick up, the pace of sales has further declined. As we outlined three weeks ago, the…
Bay Area Employment Dropped by at Least 77,000 Last Month
Based on employment data through the second week of March, which predates the bulk of the ongoing economic impact caused by COVID-19, the estimated number of people living in San…
Pending Home Sales Down 40 Percent in San Francisco
As we outlined two weeks ago, the pace of home sales in San Francisco was already “down 20 percent on a year-over-year basis and dropping fast.” And in fact, the…
Number of Homes for Sale in San Francisco Ticks Up
Having dropped nearly 50 percent over the previous two weeks, following San Francisco’s initial stay-at-home order having been issued, the number of homes on the market in San Francisco has…
First 30-Year Rate “Inversion” Since 2009
In a move which shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage has dropped another 17 basis points over the past week for…
Explicit Changes to Local Stay-at-Home Orders
In addition to extending the existing ‘stay-at-home’ order for Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara counties through May 3, 2020, the revised order explicitly tightens…
Bay Area ‘Stay-at-Home’ Order Extended to May
The “stay-at-home” order which was issued for the Bay Area on March 16, and was tentatively slated to remain in place until April 7, is proactively being extended to “at…
Benchmark Mortgage Rate Drops, Short-Term Rate Jumps
Having spiked last week, the average rate for a benchmark 30-year mortgage has since shed 15 basis points for an average rate of 3.50 percent, which is 56 basis points…