Articles Filed Under: Real Estate Economics

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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 »

Bay Area Home Sales Rebound to an 11-Year Low

Bay Area Home Sales Rebound to an 11-Year Low

Having dropped to an absolute 11-year low in January, the number of single-family homes and condos that traded hands across the greater Bay Area increased 12.9 percent in February to 4,354, which was an above-average seasonal jump but remains 12.8 percent below the sales volume at the same time... Read More »

Pending Home Sales in the U.S. Slip

Pending Home Sales in the U.S. Slip

Having ticked up 4.6 percent in January, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, slipped 1.0 percent in February to 101.9 which is 4.9 percent lower on a year-over-year basis and 9.3 percent below a cyclical high of... Read More »

Mortgage Rates Dramatically Drop, Inversion Spreads

Mortgage Rates Dramatically Drop, Inversion Spreads

With Fed officials having officially deemed the foregoing of any additional interest rate hikes in 2019 to “be best” for our economy in light of increasing global risks, which shouldn’t have caught any plugged-in readers by surprise, the average rate for a 30-year mortgage has since dropped 22 basis... Read More »

Indexes for Bay Area Home Values Drop, Nearing Negative Territory

Indexes for Bay Area Home Values Drop, Nearing Negative Territory

Having ended last year with the largest month-over-month decline in seven years, 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) dropped another 1.3 percent in January. The index has dropped a total of... Read More »

Pending Home Sales in SF Remain Down (But Picking up Steam)

While the number of homes listed for sale in San Francisco remains around 10 percent higher versus the same time last year and at a 7-year seasonal high, the number of homes in contract to be sold is currently running around 6 percent lower. That being said, the pace... Read More »

Bay Area Employment Inches Up to Another Record High

Bay Area Employment Inches Up to Another Record High

With 2018 having ended the year with Bay Area employment at an all-time high, the number of people living in San Francisco with a paycheck has since inched up 700 to a record 574,900 while the unemployment rate in the city, which ended the year at a record low... Read More »

Fed Officials Officially Drop Expectations of a Rate Hike in 2019

According to an analysis of the futures market, the probability of the Fed hiking the federal funds rate in 2019 had dropped to zero (0) as of last week, as we first reported at the time (and foreshadowed earlier this year). And according to the latest survey of Fed... Read More »