CFAH

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Pace of Existing Home Sales in the U.S. Nearing a 2-Year Low

Pace of Existing Home Sales in the U.S. Nearing a 2-Year Low

Having ticked down 2.7 percent in March, the seasonally adjusted pace of existing-home sales across the U.S. dropped another 2.4 percent in April to an annual rate of 5.61 million sales, which was down 5.9 percent on a year-over-year, the ninth straight month with a year-over-year decline, and the... Read More »

Purchase Mortgage Activity in the U.S. Down over 10 Percent

Having ticked up 2 percent last week, mortgage loan application volume across the U.S. has since dropped 11 percent on both an absolute and seasonally adjusted basis, according to data from the Mortgage Bankers Association, with a 12 percent drop in applications to purchase a home. As such, purchase... Read More »

Bigger Plans for Balboa Park Building Slated for Approval, But…

Bigger Plans for Balboa Park Building Slated for Approval, But…

Originally envisioned as a 20-unit building that would rise up to 45 feet in height upon the Balboa Park warehouse site at 350-352 Ocean Avenue, bigger plans for a six-story building to rise up to 65 feet in height on the site, with a 15-car garage, were subsequently drawn,... Read More »

Approved SoMa Development Back on the Market at a Loss

Approved SoMa Development Back on the Market at a Loss

Acquired for $4.125 million in June of 2016, plans to level the shuttered nightclub space at 280 7th Street – a through block building which was once home to “Rawhide II,” the only Country Western club in San Francisco – and build 20 condos upon the Western SoMa site... Read More »

Inventory and Price Cuts Tick Up in San Francisco

The net number of homes on the market in San Francisco (i.e., inventory) ticked up another 3 percent over the past week from what was already an 11-year seasonal high with the pace of sales currently down 15 percent on a year-over-year basis, despite the marked increase in supply. ... Read More »

Further Muted Plans for New Wharf Hotel Closer to Reality, But…

Further Muted Plans for New Wharf Hotel Closer to Reality, But…

As we outlined back in March of 2020: Having faced some pushback from the City’s Planning Department with respect to their proposed approach, as originally rendered above, the plans for a five-level hotel to rise up to 40 feet in height upon on the Northwest corner of North Point... Read More »

Pre-Pandemic Pricing Versus Spot Value for a Twisty Two

Pre-Pandemic Pricing Versus Spot Value for a Twisty Two

Priced at $1.93 million, or $1,596 per square foot, in September of 2019, the listing for the brand new two-bedroom, two-bath unit #24C with southwest corner views in the twisty MIRA tower at 280 Spear Street was removed from the MLS in January of 2020. Listed anew for $1.835... Read More »

Mortgage Applications Tick Up, ARM Share Nearly Triples

Mortgage loan application volume across the U.S. ticked up 2.0 percent over the past week on a seasonally adjusted basis and 3.0 percent in the absolute, according to data from the Mortgage Bankers Association. That being said, application volumes to refinance were down 72 percent on a year-over-year basis... Read More »

Number of Homes for Sale in San Francisco Keeps Climbing

Number of Homes for Sale in San Francisco Keeps Climbing

Driven by a pronounced slowdown in the pace of sales, the net number of homes on the market in San Francisco (i.e., listed inventory) ticked up another 8 percent over the past week from what was already an 11-year seasonal high. As such, there are now 30 percent more... Read More »

Pace of Home Sales in San Francisco Drops

Having slipped last month, representing an atypical decline in activity in the midst of the traditional spring buying/selling season and despite posturing that a jump in mortgage rates would spur more activity as buyers rushed to “lock-in at lower rates” and inventory having hit an 11-year seasonal high, the... Read More »