CFAH

Articles Filed Under: Industry Stuff

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Over Twice as Many Homes on the Market in S.F. Than in 2019

Over Twice as Many Homes on the Market in S.F. Than in 2019

Despite a slowdown in the number of homes that have been newly listed for sale over the past month, the net number of homes on the market in San Francisco, a.k.a “inventory,” has increased by double digits as the pace of sales has declined even more. As such, there... Read More »

Pace of New Home Sales in the U.S. Ticks Up, But…

Pace of New Home Sales in the U.S. Ticks Up, But…

Having dropped 12.0 percent in April, the seasonally adjusted pace of new single-family home sales in the U.S. increased 10.7 percent in May to an annualized rate of 696,000 sales.  That being said, the pace of new home sales last month was down 5.9 percent on a year-over-year basis... Read More »

Pace of Existing Home Sales in the U.S. Continues to Fall

Pace of Existing Home Sales in the U.S. Continues to Fall

Having dropped 2.4 percent in April, the seasonally adjusted pace of existing-home sales across the U.S. fell another 3.4 percent in May to an annual rate of 5.41 million sales, representing the tenth straight month with a year-over-year decline in sales, the largest year-over-year decline (8.6 percent) since the... Read More »

Another Approved Tower Not Positioning to Break Ground

Another Approved Tower Not Positioning to Break Ground

As we outlined and suggested earlier this year: The refined plans for a 14-story tower with a variegated upper mass to rise upon the Polk Gulch parcel at 925 O’Farrell Street could be entitled next week. Having added an additional 10 feet in height since formally proposed, the 140-foot-tall... Read More »

Over 570,000 Bay Area Jobs Have Been Recovered, 79K to Go

Over 570,000 Bay Area Jobs Have Been Recovered, 79K to Go

Having slipped in April, the net number of people living in San Francisco with a paycheck inched up by 1,100 in May to 556,100. As such, there are now 48,900 more employed residents in San Francisco than there were at the same time last year and 77,400 more than... Read More »

All Eyes on The Fed and Projected Rate Hike(s), Again

The probability of the Fed raising the federal funds rate by three quarters of a percentage point (75 basis points) this afternoon has jumped from under 10 percent last week to over 95 percent today, based on an analysis of the futures market. As such, the benchmark 30-year mortgage... Read More »

Pending Home Sales in San Francisco Down Nearly 30 Percent

As we outlined at the end of May: Having slipped in April, representing an atypical decline in activity in the midst of the traditional spring buying/selling season, the number of single-family homes and condos in contract across San Francisco has dropped 14 percent over the past month despite the... Read More »

Benchmark Mortgage Rate Ticks Back Up, Poised to Climb

Benchmark Mortgage Rate Ticks Back Up, Poised to Climb

Having inched down to 5.09 percent last week, the average rate for a conforming 30-year mortgage has since ticked back up to 5.23 percent which is back to within 7 basis points (0.07 percentage points) of the 670-week high it hit last month. As such, the current 30-year rate... Read More »

Mortgage Application Volume in the U.S. Drops to a 22-Year Low

Mortgage loan application volume dropped another 6.5 percent last week on a seasonally/holiday adjusted basis and 17 percent in the absolute, with a 6 percent adjusted drop in applications to refinance and a 7 percent drop in purchase mortgage activity, according to data from the Mortgage Bankers Association’s. And... Read More »

Sale of Telegraph Hill Hillside and Bigger Plans Pending, Again

Sale of Telegraph Hill Hillside and Bigger Plans Pending, Again

As we outlined back in 2018: With the list price for the 120-foot-wide chunk of Telegraph Hill’s hillside which fronts Sansome Street, below the homes at the end of Alta Street above, having been reduced to $998,000 earlier this year, the sale of the 1235 Sansome Street site (which... Read More »