Articles Filed Under: Real Estate Economics

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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 »

Number of Homes for Sale in San Francisco Ticks Up

Number of Homes for Sale in San Francisco Ticks Up

The net number of homes listed for sale in San Francisco ticked up 5 percent over the past week to 645, which is 10 percent more than at the same time last year, 59 percent higher than at the same time in 2015 (405) and another 7-year seasonal high.... Read More »

Benchmark Mortgage Rate Drops, Odds of an Easing Up

Benchmark Mortgage Rate Drops, Odds of an Easing Up

Having ticked up 6 basis points last week, the average rate for a benchmark 30-year mortgage has since dropped 10 basis points to 4.31 percent, which is 13 basis points below its mark at the same time last year, down 63 basis points since hitting a 7-year high this... Read More »

Number of Homes for Sale in San Francisco Inches Up

With the number of homes which were newly listed for sale in San Francisco over the past two weeks roughly matching the number of new purchase contracts that were written, the active inventory of homes on the market inched up a (1) percent to 620, which is still 12... Read More »

Mortgage Rates Tick Up

Mortgage Rates Tick Up

Having dropped 59 basis points since hitting a 7-year high of 4.94 percent this past November, the average rate for a benchmark 30-year mortgage ticked up 6 basis points over the past week to 4.41 percent but remains 5 basis points below its mark at the same time last... Read More »

Inventory of New Homes for Sale in the U.S. Hits a 10-Year High

Inventory of New Homes for Sale in the U.S. Hits a 10-Year High

The pace of new single-family home sales in the U.S. ended 2018 at a seasonally adjusted rate of 621,000 sales, down 2.4 percent on a year-over-year basis but with a total of 1.5 percent more new homes having sold across all twelve months of 2018 versus 2017. At the... Read More »

Price Cuts Tick Up in San Francisco, Pending Sales Still Down

The percentage of homes listed for sale in San Francisco for which the asking price has been reduced at least once has ticked up a percentage point over the past week to 16 percent, which is 2 percentage points higher on a year-over-year basis and 7 percentage points higher... Read More »

Lowest Bay Area Home Sales in 11 Years, Prices Drop

Lowest Bay Area Home Sales in 11 Years, Prices Drop

The number of single-family homes and condos that traded hands across the greater Bay Area totaled 3,857 in January, down 14.9 percent on a year-over-year basis. And in addition to representing another 11-year seasonal low, last month’s sales were an 11-year low in the absolute as well, according to... Read More »