Having dropped 2.4 percent in April, the seasonally adjusted pace of existing-home sales across the U.S. fell another 3.4 percent in May to an annual rate of 5.41 million sales, representing the tenth straight month with a year-over-year decline in sales, the largest year-over-year decline (8.6 percent) since the... Read More »

Tracking a couple of trends that shouldn’t have caught any plugged-in readers by surprise, the net number of homes on the market in San Francisco ticked up another 3 percent over the past week and there are now 32 percent more homes on the market than there were at... Read More »

Having slipped in April, the net number of people living in San Francisco with a paycheck inched up by 1,100 in May to 556,100. As such, there are now 48,900 more employed residents in San Francisco than there were at the same time last year and 77,400 more than... Read More »

The average rate for a conforming 30-year mortgage rocketed 55 basis points (0.55 percentage points) over the past week to 5.78 percent which is the highest average rate since November of 2008.  As such, the current 30-year rate is now 97 percent higher than at the same time last... Read More »

The probability of the Fed raising the federal funds rate by three quarters of a percentage point (75 basis points) this afternoon has jumped from under 10 percent last week to over 95 percent today, based on an analysis of the futures market. As such, the benchmark 30-year mortgage... Read More »

As we outlined back in March, the 2,053-square-foot, three-bedroom unit #3501 in The Avery at 488 Folsom Street, which was purchased for $3.75 million in July of 2019, features “an extra wide open floor plan that creates a light-filled, airy and elegant lifestyle,” with expansive views, three full bathrooms... Read More »

Driven by a pronounced slowdown in the pace of sales, the net number of homes on the market in San Francisco is currently 30 percent higher than at the same time last year. In fact, listed inventory levels are nearly 50 percent higher than average over the past decade,... Read More »

As we outlined at the end of May: Having slipped in April, representing an atypical decline in activity in the midst of the traditional spring buying/selling season, the number of single-family homes and condos in contract across San Francisco has dropped 14 percent over the past month despite the... Read More »

Having inched down to 5.09 percent last week, the average rate for a conforming 30-year mortgage has since ticked back up to 5.23 percent which is back to within 7 basis points (0.07 percentage points) of the 670-week high it hit last month. As such, the current 30-year rate... Read More »

Mortgage loan application volume dropped another 6.5 percent last week on a seasonally/holiday adjusted basis and 17 percent in the absolute, with a 6 percent adjusted drop in applications to refinance and a 7 percent drop in purchase mortgage activity, according to data from the Mortgage Bankers Association’s. And... Read More »