Having ticked down in September, the seasonally adjusted pace of existing-home sales across the U.S. dropped 5.9 percent last month to an annual rate of 4.43 million sales, which was 28.4 percent lower than at the same time last year; well below the pre-pandemic pace of sales; and the... Read More »

Buoyed by a slowdown in the pace of inflation, the average rate for a benchmark 30-year mortgage dropped 47 basis points over the past week to 6.61 percent but is facing headwinds as the Fed is expected to continue raising rates over the next couple of quarters, likely by... Read More »

While the number of new homes on the market across the nation has surpassed a 14-year high, with over 23 percent more inventory than at the same time last year, the number of mortgage loan applications for new homes in the U.S. dropped 13 percent in October and was... Read More »

Having slipped another percent over the past week, the number of homes in contract to be sold across San Francisco is now 46 percent lower than at the same time last year and pending home sales activity is at its lowest level in over six years on a seasonally... Read More »

While the average rate for a benchmark 30-year mortgage had slipped back under 7 percent last week, said average had been compiled prior to last week’s rate hike by the Fed. And while the majority of the latest rate hike appeared to have been priced-in to last week’s rates,... Read More »

Having hit a record high in the first quarter of this year, the total number of units in San Francisco’s housing pipeline, including affordable units that are slated to be rebuilt, slipped back under 80,000 in the second quarter of 2022, driven by a 22 percent drop in the... Read More »

While the net number of homes on the market in San Francisco (i.e., inventory or supply) ticked down 5 percent over the past week with typical seasonality in play, there are still 22 percent more homes on the market than there were at the same time last year and... Read More »

While the draft Environmental Impact Report (EIR) for the proposed 27-story, 495-unit infill tower to rise on Nordstrom’s underdeveloped parking lot parcel at 469 Stevenson Street was certified by San Francisco’s Planning Commission in July of last year, the certification was subsequently appealed and overturned by San Francisco’s Board... Read More »

The average rate for a benchmark 30-year mortgage ticked down 13 basis points over the past week to 6.95 percent, slipping back under 7 percent but still 125 percent higher than at the same time last year, over 160 percent higher than last year’s all-time low, and below its... Read More »

The weighted average asking rent for an apartment in San Francisco ticked down another (1) percent in October to $3,690 per month and has now ticked down for two months in a row. As such, while the average asking rent in San Francisco is 10 percent higher than at... Read More »