Articles Filed Under: Real Estate Economics

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Bay Area Employment Actually Dropped Last Month

Bay Area Employment Actually Dropped Last Month

Having hit a record high in February, the number of people living in San Francisco with a paycheck, which typically ticks up in March, actually decreased by 3,400 last month to 572,000 and the unemployment rate, which hit a record low of 2.1 percent at the end of last... Read More »

Benchmark Mortgage Rate Ticks Up, Odds of an Easing Slips

Benchmark Mortgage Rate Ticks Up, Odds of an Easing Slips

The average rate for a 30-year mortgage ticked up 5 basis points over the past week to 4.17 percent, which is up 11 basis points since the end of March but remains 30 basis points below the average rate at the same time last year (4.47 percent), according to... Read More »

Pending Home Sales Trend in San Francisco Turns Up

While the number of homes sold in San Francisco will end the first quarter down versus the first quarter of 2018 and around a ten-year low, pending sales activity recently started picking up steam. In fact, for the first time in nearly a year, the number of homes in... Read More »

Number of Homes for Sale in San Francisco Slips

Number of Homes for Sale in San Francisco Slips

While the total number of homes currently listed for sale in San Francisco (610) is now running 1 percent higher than at the same time last year (605), and roughly 45 percent higher than in mid-April 2014 (420), inventory levels have atypically slipped 5 percent over the past month with... Read More »

Record Office Rents in San Francisco Climb with a Jump in Demand

Record Office Rents in San Francisco Climb with a Jump in Demand

Having ended 2018 at a record high, driven in part by the delivery of a record 3.7 million square feet of shiny new space over the past year, all of which was delivered pre-leased, the average asking rent for office space in San Francisco ticked up another 2.2 percent... Read More »

Mortgage Rates Inch Up, Inversion Increases, Odds of Easing Even

Mortgage Rates Inch Up, Inversion Increases, Odds of Easing Even

Having dropped 35 basis points in March, including the biggest one week drop in over a decade, the average rate for a 30-year mortgage has ticked up 6 basis points over the past two weeks to 4.12 percent but remains 30 basis points below its average rate at the... Read More »

Number of Homes Listed for Sale in San Francisco Holds

The net number of homes listed for sale in San Francisco has been holding around 620 over the past week, which represents 8 percent more inventory on the market than at the same time last year. The currently inventory count includes 205 single-family homes (which is 2 percent more... Read More »

Asking Rents in San Francisco and Oakland Slip in First Quarter

Asking Rents in San Francisco and Oakland Slip in First Quarter

Having reversed course last year, the weighted average asking rent for an apartment in San Francisco and Oakland slipped a little over one (1) percent in the first quarter of 2019 but with a bit of seasonality in play. Including one-off rentals, as well as those in larger developments,... Read More »

Pace of New Home Sales in the U.S. Ticks Up, Median Price Slips

Pace of New Home Sales in the U.S. Ticks Up, Median Price Slips

The pace of new single-family home sales in the U.S. ticked up 4.9 percent in February to a seasonally adjusted rate of 667,000 sales which is 0.6 percent above the pace of sales at the same time last year with a median sale price of $315,300, down 3.6 percent... Read More »

More Expensive Homes for Sale in San Francisco

While the total number of homes listed for sale in San Francisco slipped by a little under 4 percent to 625 over the past two weeks with typical Spring Break seasonality in play, there is now 17 percent more inventory on the market versus the same time last year... Read More »