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Articles Filed Under: Breaking News

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Home Sales in the U.S. Continue to Drop, Inventory Ticks Up

Home Sales in the U.S. Continue to Drop, Inventory Ticks Up

Having dropped to a 6-month low in March, the seasonally adjusted pace of existing-home sales across the U.S. dropped another 2.7 percent in April to an annual rate of 5.85 million sales, which was 33.9 percent higher than in April of 2020, when pandemic-driven stay home orders were widespread,... Read More »

Pace of Construction in San Francisco Drops, but…

Pace of Construction in San Francisco Drops, but…

With the number of units of housing that finished up construction across San Francisco at the end of last year having outpaced the number of units for which the ground was newly broken, the net number of units under construction across the city dropped 8 percent from the third... Read More »

Apartment Rents in San Francisco Appear to Have Bottomed

Apartment Rents in San Francisco Appear to Have Bottomed

Having continued to inch down last month, the weighted average asking rent for an apartment in San Francisco appears to have bottomed at around $3,050 a month, down around 25 percent since the pandemic hit and nearly 32 percent below a 2015-era peak. And with the average asking rent... Read More »

Scofflaw Permit Expediter Agrees to a $1.7 Million Settlement

Scofflaw Permit Expediter Agrees to a $1.7 Million Settlement

Walter Wong, the permit expediter for the 555 Fulton Street project and head of the W. Wong Construction Company, has agreed to repay the City for $1.45 million in no-bid contracts and grants awarded to Wong and his companies by San Francisco’s Department of Public Works, the SFPUC, and... Read More »

Benchmark Mortgage Rate Inches Down, Short-Term Rate Drops

Benchmark Mortgage Rate Inches Down, Short-Term Rate Drops

The average rate for a benchmark 30-year mortgage inched down another 2 basis points (0.02 percentage points) over the past week to 2.94 percent, which is 34 basis points below its mark at the same time last year, down 24 basis points over the past six weeks, and back... Read More »

San Francisco’s City Hall Will Reopen in June

San Francisco’s City Hall Will Reopen in June

Having closed to the public in March of last year, San Francisco’s City Hall will reopen for in-person services, such as applying for marriage licenses, obtaining birth and death certificates, recording and researching documents, registering businesses, and the processing of property and business taxes and fees, along with general... Read More »

MLB Instructs the Oakland A’s to Explore a Move

MLB Instructs the Oakland A’s to Explore a Move

Citing “ with the rate of progress on the A’s new ballpark effort with local officials and other stakeholders in Oakland,” Major League Baseball has instructed the Oakland Athletics “to begin to explore other markets” in parallel to pursuing approval of their plans for a proposed stadium, residential and... Read More »

Bay Area Population Declines, Housing Supply Inches Up

Bay Area Population Declines, Housing Supply Inches Up

Following a trend that shouldn’t catch any plugged-in reader’s by surprise, the estimated population of San Francisco proper decreased by 14,773 (1.7 percent) in 2020, representing the largest decline across all of the Bay Area counties on both an absolute and percentage basis, for an estimated population of 875,010... Read More »

Bars Can Reopen in San Francisco, Plus… [UPDATED]

Bars Can Reopen in San Francisco, Plus… [UPDATED]

With the COVID-19 case rate for San Francisco having dropped to an average of under 30 new cases per day, or under 3 new cases per 100,000 residents, and the testing positivity rate having inched back down to 0.6 percent, the assessed risk level for San Francisco County has... Read More »

Index for Bay Area House Values Ticks Up, Condo Index Too

Index for Bay Area House Values Ticks Up, Condo Index Too

Having inched up an upwardly revised 0.6 percent in January, 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 2.1 percent in February and was up 11.0 percent on a... Read More »