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Articles Filed Under: Real Estate Economics

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Bay Area Population Revised Down, S.F. Dropped the Most

Bay Area Population Revised Down, S.F. Dropped the Most

Having just been revised down, the estimated population of San Francisco proper decreased by 4,356 from July of 2021 (838,402) to July of 2022 (834,046) and is down by 36,084 or 4.1 percent since July of 2020, representing the largest percentage decline in population across all nine Bay Area... Read More »

Pace of New Home Sales Down Over 26 Percent

Pace of New Home Sales Down Over 26 Percent

While the seasonally adjusted pace of new single-family home sales in the U.S. ticked up 2.3 percent last month to an annualized rate of 616,000 sales, the pace was 26.6 percent lower than at the end of 2021, 34.7 percent lower than at the end of 2020 and 15.7... Read More »

Office Vacancy Rate in Oakland’s City Center Ticks Over 34%

Office Vacancy Rate in Oakland’s City Center Ticks Over 34%

The office vacancy rate in the East Bay, not including Walnut Creek or further east, ticked up to 18.4 percent at the end of last year, roughly double the vacancy rate prior to the pandemic. In addition to 4.9 million square feet of un-leased space, the current vacancy rate... Read More »

Number of Homes for Sale in San Francisco Poised to Climb

Number of Homes for Sale in San Francisco Poised to Climb

The net number of condos and single-family homes listed for sale in San Francisco has started its seasonal climb, ticking up a little over 21 percent over the past two weeks and poised to climb. As such, listed inventory levels are starting the year around 20 percent higher than... Read More »

2022 Ended with Bay Area Employment Nearing Previous Peak

2022 Ended with Bay Area Employment Nearing Previous Peak

Having atypically dropped in October and November, the net number of people living in San Francisco with a paycheck increased by 5,900 in December to 566,700, ending 2022 with 23,000 more employed residents in the city there were at the end of 2021 and 88,000 more employed people than... Read More »

Benchmark Mortgage Rate Drops to a 4-Month Low, But…

Benchmark Mortgage Rate Drops to a 4-Month Low, But…

The average rate for a benchmark 30-year mortgage dropped 18 basis points (0.18 percentage points) over the past week to 6.15 percent, which is the lowest average rate in fourth months but still 250 basis points, or 73 percent, higher than at the same time last year; over 350... Read More »

Enough Empty Office Space for 160,000 People in San Francisco

Enough Empty Office Space for 160,000 People in San Francisco

As we outlined yesterday, the amount of vacant office space in San Francisco has just hit a new pandemic-era high of nearly 21 million square feet. For context, the 1,070-foot-tall Salesforce/Transbay tower at First and Mission, which is the tallest building in San Francisco, contains 1.35 million square feet... Read More »

Purchase Mortgage Activity Jumps

Having dropped to a 9-year low last week, the seasonally adjusted volume of applications to secure a purchase mortgage loan for a home in the U.S. has since jumped 25 percent but remains 35 percent lower than at the same time last year, according to data from the Mortgage... Read More »

Office Vacancy Rate in San Francisco Hits an Even Higher High

Office Vacancy Rate in San Francisco Hits an Even Higher High

Having hit a pandemic-era high of 23 percent in the third quarter of last year, the effective office vacancy rate in San Francisco has since ticked up another 110 basis points to just over 24 percent, representing nearly 21 million square feet of vacant office space in buildings spread... Read More »

Inventory Up, Home Sales and Prices Down in San Francisco

The net number of condos and single-family homes listed for sale in San Francisco ticked up 10 percent over the past week and is currently running 20 percent higher than at the same time last year and 60 percent higher than average over the past decade. At the same... Read More »