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Articles Filed Under: Real Estate Economics

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Mortgage Rates Inch Up, Odds of More Rate Hikes As Well

Mortgage Rates Inch Up, Odds of More Rate Hikes As Well

While mortgage application volume dropped to a quarter century low at the end of 2022, despite a pullback in mortgage rates in the fourth quarter of last year, the average rate for a benchmark 30-year mortgage has since inched up another 6 basis points (0.06 percentage points) to 6.48... Read More »

Mortgage Application Volume Ended 2022 Near a 30-Year Low

With the seasonally adjusted volume of applications for purchase mortgage loans across the U.S. having dropped 12 percent over the last two weeks of last year, purchase mortgage application volume was 42 percent lower at the end of 2022 than at the end of 2021. And with applications to... Read More »

Expectation Gap Widens in San Francisco

Despite the fact that the average list price per square foot of homes on the market in San Francisco is already 10 percent lower than at the same time last year, with over a third of the homes on the market having been reduced at least once, the expectation... Read More »

2022 Ends with Over 40% More Homes on the Market in S.F.

2022 Ends with Over 40% More Homes on the Market in S.F.

Having peaked in October, the net number of homes on the market in San Francisco has since dropped 50 percent with typical seasonality in play and driven by a pronounced slowdown in listing activity versus a jump in sales. In fact, pending sales have been down an average of... Read More »

Average Asking Rent in San Francisco Ended the Year Up, But…

Average Asking Rent in San Francisco Ended the Year Up, But…

While the weighted average asking rent for an apartment in San Francisco is ending the year around 5 percent higher than at the end of 2021, it ticked down 2 percent in December to $3,500 per month and dropped 6 percent in the fourth quarter of 2022, “with what... Read More »

Pending Price per Square Foot Drops to a Five-Year Low in S.F.

With the Case-Shiller index for Bay Area home values, which is a lagging indicator, having shed 13 percent since May and headed down, the average price per square foot of the homes which are in contract in San Francisco, which is a leading indicator, has just dropped under $860... Read More »

Index for Bay Area Homes Has Dropped 13%, Headed Down

Index for Bay Area Homes Has Dropped 13%, Headed Down

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 – ticked down another 1.7 percent in October. While the “San Francisco” index is still 0.6 percent “higher than it was at the same... Read More »

Pace of New Home Sales Ticks Up, But…

Pace of New Home Sales Ticks Up, But…

While the seasonally adjusted pace of new single-family home sales in the U.S. ticked up 5.8 percent in November to an annualized rate of 640,000 sales, the pace was still 15.3 percent lower than at the same time last year, 26 percent lower than in 2020 and 8.0 percent... Read More »

Benchmark Mortgage Rate Inches Down, But…

Benchmark Mortgage Rate Inches Down, But…

The average rate for a benchmark 30-year mortgage inched down another 4 basis points (0.04 percentage points) over the past week to 6.27 percent but remains 106 percent higher than it was at the same time last year and 137 percent higher than last year’s all-time low of 2.65... Read More »

New Home Demand Down 25 Percent, Average Loan Size Drops

New Home Demand Down 25 Percent, Average Loan Size Drops

While the number of new homes on the market across the nation is approaching a 15-year high, with over 20 percent more inventory than at the same time last year, and new home purchase application volume “rebounded” one (1) percent from October to November with a drop in rates,... Read More »