Articles Filed Under: Real Estate Economics

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Number of Homes on the Market in San Francisco Holds

Number of Homes on the Market in San Francisco Holds

With the number of homes that were newly listed for sale in San Francisco over the past week matched by the number of new purchase contracts written, overall inventory levels effectively held at around 900 and a seasonal 10-year high. And while the pandemic-driven exodus of listings in March... Read More »

Benchmark Mortgage Rate Inches Down

Benchmark Mortgage Rate Inches Down

Having ticked up 53 basis points, or 0.53 percentage points, from an all-time low of 2.65 percent in early January, the average rate for a benchmark 30-year mortgage inched down 5 basis points over the past week to 3.13 percent and is still 20 basis points below its mark... Read More »

Mortgage Loan Activity Drops

Having ticked down 2 percent last week with the traditional spring buying/selling season underway, mortgage loan application volume across the U.S. has since dropped another 5 percent in the absolute, or 5.1 percent on a seasonally adjusted basis, with a 5 percent drop in refinancing activity and a 4... Read More »

Inventory Levels Tick Down in San Francisco To a 10-Year High

While there are now twice as many homes on the market in San Francisco than there were at the same time last year, the year-over-year metric is currently being skewed by an exodus of listings last March. And in fact, the number of single-family homes and condos listed for... Read More »

COVID Case Rate Inching Back Up in San Francisco

COVID Case Rate Inching Back Up in San Francisco

Having dropped to pandemic low of 0.78 percent three weeks ago, the 7-day average positivity rate for those who are tested for COVID-19, which effectively peaked at 5.36 percent in early January, has inched back up to 0.94 percent. And as such, the average number of daily new COVID-19... Read More »

Pending Home Sales Drop Over 10 Percent Nationally

Pending Home Sales Drop Over 10 Percent Nationally

Having ticked down 2.8 percent in January, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, dropped 10.6 percent in February to 110.3, representing the sixth consecutive month-over-month decline for the index which peaked at 132.8... Read More »

Bay Area House Values Hold, Condos Slip, Again

Bay Area House Values Hold, Condos Slip, Again

Having held in December, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area – which includes the East Bay, North Bay and Peninsula – inched up 0.2 percent in January for 9.1 percent year-over-year gain versus a 11.2 percent year-over-year gain nationally. At... Read More »

Asking Rents in Oakland Tick Up

Asking Rents in Oakland Tick Up

While the weighted average asking rent for an apartment in San Francisco has continued to inch down, despite some recent misreports to the contrary, the weighted average asking rent for an apartment in Oakland has inched up around 2 percent over the past month to a four-month high of... Read More »

Number of Homes for Sale in San Francisco Ticks Up

With the number of single-family homes and condos that were newly listed for sale in San Francisco over the past week having outpaced the number of new purchase contracts that were written, the number of homes on the market across the city (i.e., inventory) ticked up a (1) percent... Read More »

Over 320,000 Bay Area Jobs Have Been Recovered, But…

Over 320,000 Bay Area Jobs Have Been Recovered, But…

Having dropped in January, the number of people living in San Francisco with a paycheck increased by 7,100 in February to 510,200, which is 31,500 more employed people than there were last April, at the height of pandemic unemployment locally, but still 60,600 fewer employed residents than there were... Read More »