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Articles Filed Under: Real Estate Economics

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Pace of Existing Home Sales Ticks Up, Down Year-Over-Year

Pace of Existing Home Sales Ticks Up, Down Year-Over-Year

Having inched up 0.8 percent in October, the seasonally adjusted pace of existing-home sales across the U.S. ticked up 1.9 percent in November to an annual rate of 6.46 million sales, which was 2.0 percent lower than at the same time last year and the fourth straight month with... Read More »

Purchase Mortgage Activity in the U.S. Drops

Having ticked down 3 percent on a seasonally adjusted basis and 6 percent in the absolute, mortgage loan application volumes to purchase a home in the U.S. were down 9 percent on a year-over-year basis last week with refinancing activity down 42 percent, according to the Mortgage Bankers Association.... Read More »

New Unemployment Claims Near Pre-Pandemic Levels, But…

New Unemployment Claims Near Pre-Pandemic Levels, But…

Having dropped to a pandemic-era low of 51,484 in October, the number of new unemployment claims filed across the Bay Area fell to 36,421 in November, which was within 40 percent of pre-pandemic levels and down from an average of nearly 200,000 new claims a month since March of... Read More »

Inventory, Sales and Price Per Square Foot Drops

With typical seasonality in play, the net number of homes on the market in San Francisco dropped another 18 percent over the past week to 600, representing 45 percent fewer homes on the market than at the same time last year but 50 percent more than there were prior... Read More »

Nearly 500K Bay Area Jobs Have Been Recovered, 157K to Go

Nearly 500K Bay Area Jobs Have Been Recovered, 157K to Go

Having increased by a downwardly revised 4,500 in October, the net number of people living in San Francisco with a paycheck increased by 6,300 in November to 546,800, dropping the unemployment rate to 3.3 percent with 37,800 more employed residents in the city than there were at the same... Read More »

Measure to Streamline Housing Project Approvals Proposed

As sponsored by Mayor Breed and Supervisor Safaí, a proposed ballot measure would exempt qualifying housing projects from Planning’s discretionary review (DR) process, establish a (fast) track for the ministerial approval of code-conforming projects, and require projects to be permitted within six months of being proposed. Projects with at... Read More »

Purchase Activity for New Homes in the U.S. Slips

Despite the fact the number of new homes on the market across the country hit a 13-year high in October, and inventory levels were 37 percent higher than at the same time last year, mortgage application activity to purchase said homes slipped 3 percent last month and was down... Read More »

Prepare for Multiple Rate Hikes in 2022

Prepare for Multiple Rate Hikes in 2022

With “supply and demand imbalances related to the pandemic and the reopening of the economy” having “continued to contribute to elevated levels of inflation,” which has been rattling the market, the Federal Reserve has decided to reduce the pace of its bond-buying program and economic support for the economy... Read More »

Asking Rents in Oakland Inch Up

Asking Rents in Oakland Inch Up

Having held at around $2,400 over the past three months, the weighted average asking rent for an apartment in Oakland has inched up a (1) percent over the past few weeks to $2,425 a month, which is around 7 percent higher than at the same time last year. That... Read More »

Pace of Home Sales in S.F. Drops, Down Over 20 Percent YOY

The number of homes on the market in San Francisco dropped 11 percent over the past week to 730, which is 42 percent lower than at the same time last year and shouldn’t have caught any plugged-in readers by surprise. At the same time, the net number of single-family... Read More »