Articles Filed Under: Real Estate Economics

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Bay Area Employment Holds, Unemployment Rate Down

Bay Area Employment Holds, Unemployment Rate Down

Having benefited from a seasonal bump in July, the number of people living in San Francisco with a paycheck, which is now estimated at 573,600, was unchanged in August. But with the labor force having since shed 1,100 people, the unemployment rate in the city has dropped from 2.4... Read More »

Mortgage Rates Jump

Mortgage Rates Jump

Having started to inch up last week, the average rate for a 30-year mortgage has since jumped another 17 basis to 3.73 percent but remains 92 basis points below its mark at the same time last year and within 32 basis points of a three/six-year low. At the same... Read More »

The Fed Just Cut Rates, Again

As predicted, the Federal Reserve just cut the benchmark Federal Funds rate by another 25 basis points (0.25 percentage points), the second such cut this year. Having dropped its benchmark rate a total of 5 percentage points between August of 2007 and the end of 2008, a move which... Read More »

Home Sales Activity in San Francisco Remains Down

While the number of homes listed for sale in San Francisco just hit an 8-year seasonal high, pending home sales activity in the city remains down. In fact, despite a significant drop in mortgage rates over the same period of time, and both the DJIA and S&P 500 currently... Read More »

Number of Homes for Sale in San Francisco Hits an 8-Year High

Number of Homes for Sale in San Francisco Hits an 8-Year High

With listing activity having hit a 13-year high earlier this month, the number of homes currently listed for sale in San Francisco now totals 910, which is 2 percent higher than at the same time last year and an 8-year seasonal high. At the same time, the percentage of... Read More »

Mortgage Rates Inch Up

Mortgage Rates Inch Up

While the average rate for a 30-year mortgage inched up 7 basis points over the past week to 3.56 percent, it remains within 15 basis points of a three/six-year low and down 138 basis points (1.38 percentage points or roughly 28 percent) since the fourth quarter of last year.... Read More »

Pending Home Sales in San Francisco Are Really Down

As we noted last week, the year-to-date pace of completed home sales in San Francisco is currently running at an 8-year low. And in addition to being down over 10 percent versus the same time last year, despite a significant drop in mortgage rates over the same period of... Read More »

Listing Activity Hits a 13-Year High in San Francisco

While home sales in San Francisco are currently running at an 8-year low, the number of properties newly listed for sale over the past week crossed the 300 mark for the first time since 2010 and effectively matched a 13-year high. As such, the inventory of homes currently listed... Read More »

Home Sales in San Francisco Remain at an 8-Year Low

With July home sales in San Francisco having slipped on a year-over-year basis, sales through the first seven months of 2019 now total a little under 3,200, which is down a little over 7 percent versus 2018 and remains at an 8-year low, despite a significant drop in mortgage... Read More »

Benchmark Mortgage Rate Nearing a Six-Year Low

Benchmark Mortgage Rate Nearing a Six-Year Low

The average rate for a 30-year mortgage dropped 9 basis points over the past week to 3.49 percent, which is down 145 basis points (1.45 percentage points or 29.4 percent) since the fourth quarter of last year and is now within 8 basis points of both a three and... Read More »