Benchmark Mortgage Rate Ticks Up to 6.77 Percent
As we outlined last week, prior to a market shock that appears to have caught some by surprise, the expected value of the Fed’s interest rate cuts this year was…
Tenant Buyouts Drop in San Francisco
Landlords in San Francisco inked 260 legally recorded tenant buyout agreements last year, as mapped above, a 33 percent drop from the 389 inked in 2022 and 391 inked in…
Plans for Pac Heights Redevelopment Entitled! But…
As we outlined at the end of last year, plans for converting the landmarked Health Sciences Library building on the southeast corner of Sacramento and Webster into a 24-unit luxury…
Infamous Sea Cliff Mansion Finally Trades
On the market for $19.675 million back 2016, returned to the market listed for $17.5 million in 2020, having been “cleaned up” and positioned as a “beautiful blank canvas ready…
Breaking News
Bubble (Or Not)
East Bay
Marin (And Points North)
Real Estate Economics
San Jose (And South)
Trends
Bay Area Home Values Tick Down, Top Tier Drops the Most
Having slipped (a revised) 0.6 percent in October, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area (i.e., “San Francisco,” which includes the East…
Average New Home Price Drops, Sales Tick Up, Inventory Too
Having dropped 9 percent in November, the seasonally adjusted pace of new single-family home sales in the U.S. ticked back up 8 percent in December and ended the year 4.4…
Breaking News
Bubble (Or Not)
East Bay
Industry Stuff
Marin (And Points North)
Real Estate Economics
San Jose (And South)
Trends
Bay Area Employment Dropped in 2023, Still Trending Down
Having dropped by a downwardly revised 1,900 in November, the net number of San Francisco residents with a job dropped by another 1,300 in December to 552,800. As such, there…
Mortgage Rates Inch Down, Probability of Q1 Cut Slips
Having inched up from 6.61 to 6.66 percent over the past two weeks, the average rate for a benchmark 30-year mortgage has since inched back down to 6.60 percent, which…
East Bay Office Space Demand Nears a 30-Year Low, Supply Ticking Up
The effective office vacancy rate in the East Bay, not including Walnut Creek or further east, ticked over 21 percent at the end of December, with nearly 4.8 million square…
Another 2 Million Square Feet of Vacant Office Space in San Francisco
As we noted this past October, at which point there was “only” 26 million square feet of vacant space spread across San Francisco, there was “another 2 million square feet…