CFAH

Articles Filed Under: Real Estate Economics

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Just Quotes: So Is San Francisco Hot Or Not?

“Do not be afraid of falling prices. It’s sales that are important,” Lereah said. “We needed prices to fall. We had a balloon and we are deflating it. It got to the point where homes were unaffordable and we reached a breaking point. That’s the reason we are... Read More »

San Francisco’s One Thumb Up

San Francisco’s One Thumb Up

BusinessWeek gives San Francisco real estate a “thumbs up” in terms of “Value for the Long Run.” And while we agree, the jury is still out with regard to the near term. From BusinessWeek: Housing has gone from a sure thing to a complete muddle. Median prices fell nationwide... Read More »

Just Quotes: Et Tu David?

David Lereah, the senior vice president and chief economist of the National Association of Realtors, “expects real estate prices to continue to fall in most U.S. markets. In areas that experienced the largest price appreciation in recent years, a correction is needed, he said, this time citing San Francisco... Read More »

The Article (And The House)

The Article (And The House)

From the Chronicle: “After five open houses, a $40,000 price-cut and three months on the market, Leslie Nakajima hasn’t had a single offer on her three-bedroom house in Potrero Hill. Nakajima, who does public relations for tech firms, said she’s surprised it’s taking so long to sell.” “She was... Read More »

Those Numbers Sure Can Be Tricky

Those Numbers Sure Can Be Tricky

Some interesting September-to-September data points courtesy of the SFHomeBlog: ∙ MLS listed inventory in San Francisco is up 36% from 9/04 ∙ MLS recorded sales in San Francisco are down 28% from 9/04 We can’t vouch for the data, but if you take it at face value, listed housing... Read More »

Economy.com Weighs In On San Francisco

Three quotes from the Chronicle: Prices in San Francisco, Marin and San Mateo counties will rise about 3.6 percent a year for the next two years even as home values in the East Bay slip, according to a Moody’s Economy.com report. “There doesn’t appear to be much excess supply... Read More »

The President Of N.A.R. Goes To Washington

A couple of quotes from the testimony (pdf) of Tom Stevens, the President of the National Association of REALTORS, at today’s U.S. Senate hearing on “The Housing Bubble and Its Implications for the Economy” (emphasis added): “Sales are down significantly in Florida, California, Arizona, Nevada, Virginia, and Maryland. These... Read More »

Presentation To The NAR Leadership Summit

Presentation To The NAR Leadership Summit

A tipster forwards the link to David Lereah’s Real Estate Reality Check presentation given at the National Association of Realtors (NAR) Leadership Summit last week. Very little of the data is San Francisco specific, but as our tipster notes, “definitely an interesting look at the national market.” A couple... Read More »

Affordability Is Up! (But Not Really)

Earlier this morning, we referenced the Housing Affordability Index (HAI) which is published by the California Association of Realtors (C.A.R.). According to the last published index (February), the percentage of households that could afford to purchase a median-priced home in the Bay Area was 12% (and only 9% in... Read More »

But Isn’t The Median Sales Price Up?

But Isn’t The Median Sales Price Up?

Last November, 2760 Sacramento #3 (a 1,220 sqft. first floor, one bedroom, one bath condo without parking) sold for $827,000. Three days ago, the asking price for 2760 Sacramento #11 (a 1,220 sqft. top floor, one bedroom, one bath condo with parking) was reduced $40,000 after failing to sell... Read More »