Articles Filed Under: Real Estate Economics

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Mortgage Rates Continue to Drop, Odds of Another Easing Jump

Mortgage Rates Continue to Drop, Odds of Another Easing Jump

The average rate for a 30-year mortgage dropped another 9 basis points over the past week to 3.51 percent, which is 95 basis points (0.95 percentage points) below its mark at the same time last year, the lowest average rate in five months, and within 11 basis points of... Read More »

Pending Home Sales Activity in the U.S. Drops

Pending Home Sales Activity in the U.S. Drops

While the pace of home sales across the U.S. ended the year up, with contract activity having ticked up 1.2 percent in November, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, suddenly dropped 4.9 percent... Read More »

Index For Bay Area Home Values Ekes Out A Gain

Index For Bay Area Home Values Ekes Out A Gain

Having dropped a total of 1.5 percent from July through October, 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 November and is now running 0.5 percent... Read More »

Pace of New Home Sales in the U.S. Ended 2019 Up

Pace of New Home Sales in the U.S. Ended 2019 Up

Having ticked down a percent in November, the pace of new single-family home sales in the U.S. slipped 0.4 percent in December to a seasonally adjusted annual rate of 694,000 sales but ended the year at a pace of sales which was 23 percent higher than at the end... Read More »

Inventory Levels Poised to Jump in San Francisco

Inventory Levels Poised to Jump in San Francisco

While the number of homes on the market in San Francisco has stated ticking up, inventory levels are currently running around 15 percent lower than at the same time last year. That being said, the year-over-year decline in inventory levels is currently being driven by an even greater year-over-year... Read More »

Bay Area Employment Slows Its Roll

Bay Area Employment Slows Its Roll

The number of people living in San Francisco with a paycheck was effectively unchanged from November to December and is now holding around a record 580,000 with an unemployment rate of 1.9 percent. As such, there are now 6,200 more people living in the city with paychecks than there... Read More »

Mortgage Rates Drop, Odds of a Cut Tick Up

Mortgage Rates Drop, Odds of a Cut Tick Up

The average rate for a 30-year mortgage has inched down another 4 basis points over the past two weeks to 3.60 percent, which is 85 basis points (0.85 percentage points) below its mark at the same time last year, a 15-week low and within 20 basis points of a... Read More »

Pace of Existing-Home Sales in the U.S. Ended 2019 Up

Pace of Existing-Home Sales in the U.S. Ended 2019 Up

Having dropped 1.7 percent in November, the seasonally adjusted pace of existing-home sales across the U.S. rebounded 3.6 percent in December to an annual rate of 5.54 million sales, which was 10.8 percent above its mark at the end of 2018, according to the National Association of Realtors. At... Read More »

Inventory Levels Start Ticking Up in San Francisco

The number of homes for sale in San Francisco ticked up an above-average 25 percent over the past week for a current listed inventory count of around 400 homes, which is 16 percent lower than at the same time last year but 67 percent higher than in early 2015... Read More »

Benchmark Mortgage Rate Drops to a 13-Week Low

Benchmark Mortgage Rate Drops to a 13-Week Low

Having started the year down, the average rate for a 30-year mortgage dropped another 8 basis points over the past week to 3.64 percent, which is now 81 basis points (0.81 percentage points) below its mark at the same time last year, a 13-week low and within 24 basis... Read More »