Articles Filed Under: Real Estate Economics

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Pace of New Home Sales in the U.S. Drops

Pace of New Home Sales in the U.S. Drops

Having gained an upwardly revised 8.1 percent in March, the pace of new single-family home sales in the U.S. dropped 6.9 percent in April to a seasonally adjusted rate of 673,000 sales but remains 7.0 percent above the pace of sales at the same time last year. With a... Read More »

Pace of Existing Home Sales in the U.S. Down, Inventory Up

Pace of Existing Home Sales in the U.S. Down, Inventory Up

Having dropped 4.9 percent in March, the seasonally adjusted pace of existing-home sales across the U.S. slipped another 0.4 percent in April to an annual rate of 5.19 million transactions, which is 4.4 percent below the pace as measured at the same time last year, according to the National... Read More »

Pace of Home Sales in San Francisco Drops, Inventory Inches Up

While home sales in San Francisco totaled a ten-year low in the first quarter of 2019, the pace of sales turned up at the end of March and April sales will show a year-over-year increase, trends which shouldn’t catch any plugged-in readers by surprise. That being said, the pace... Read More »

Bay Area Employment Really Drops, Unemployment Rate as Well

Bay Area Employment Really Drops, Unemployment Rate as Well

While the unemployment rate in San Francisco returned to a record low 2.1 percent last month, the drop was driven by a reduction in the size of the labor force and the number of people living in San Francisco with a paycheck actually decreased by 5,700 to 566,200, which... Read More »

Benchmark Mortgage Rate Dips, Odds of an Easing Jumps

Benchmark Mortgage Rate Dips, Odds of an Easing Jumps

The average rate for a 30-year mortgage shed 7 basis points over the past two weeks to 4.07 percent, an average rate which is now 54 basis points lower than at the same time last year, according to Freddie Mac’s latest Mortgage Market Survey data. The average rate for... Read More »

Number of Homes for Sale in SF Inches Up but Trend Turns Down

Number of Homes for Sale in SF Inches Up but Trend Turns Down

While the inventory of homes actively listed for sale in San Francisco inched up another 2 percent over the past week to 650, which is 38 percent higher than in mid-May of 2014, inventory levels are now running 7 percent lower than at the same time last year, which... Read More »

Luxury Two-Bedroom with Views Nearly Fetches its Early 2018 Price

Luxury Two-Bedroom with Views Nearly Fetches its Early 2018 Price

Purchased for $2.38 million in February of 2018, the two-bedroom unit #31C on the 31st floor of LUMINA’s Tower B (201 Folsom Street, at the corner of Beale) returned to the market with a $2.688 million price tag three months ago, a sale at which would have represented anticipated... Read More »

Pace of Home Sales in San Francisco Slips

Having started picked up steam in late March, the pace of home sales in San Francisco was running 8 percent higher on a year-over-year basis by the middle of April, as we first reported at the time. While the number of homes in contract is still running around 4... Read More »

Inventory of Homes on the Market in SF Continues to Inch Up

The inventory of homes listed for sale in San Francisco inched up another 2 percent over the past week to 640. That being said, while inventory levels are now 39 percent higher than at the beginning of May back in 2015, they’re now 1 percent lower than at the... Read More »

Benchmark Mortgage Rate Slips, Odds of an Easing Drops

Benchmark Mortgage Rate Slips, Odds of an Easing Drops

The average rate for a 30-year mortgage dropped 6 basis points over the past week to 4.14 percent, which is 41 basis points below the average rate as measured at the same time last year (4.55 percent), according to Freddie Mac’s latest Mortgage Market Survey data. At the same... Read More »