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Articles Filed Under: Real Estate Economics

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Over 400K Bay Area Jobs Have Been Recovered, 248K Left to Go

Over 400K Bay Area Jobs Have Been Recovered, 248K Left to Go

Having increased by a downwardly revised 3,500 in June, the number of people living in San Francisco with a paycheck jumped by 12,200 in July to 532,400, representing the most employed residents in San Francisco since the pandemic hit and over 40,000 more employed residents in the city than... Read More »

Pace of Existing-Home Sales Ticks Up, Median Price Slips

Pace of Existing-Home Sales Ticks Up, Median Price Slips

The seasonally adjusted pace of existing-home sales across the U.S. ticked up 2.0 percent last month to an annual rate of 5.99 million sales, which was 1.5 percent higher than at the same time last year, according to data from the National Association of Realtors, but 12.6 percent lower... Read More »

San Francisco Rents Tick Up, Listing Activity Too

San Francisco Rents Tick Up, Listing Activity Too

While the rebound in San Francisco apartment rents has slowed, the weighted average asking rent for an apartment in the city has ticked up around 1.5 percent ($50) over the past few weeks to around $3,325 per month. As such, the average asking rent in San Francisco is now... Read More »

Purchase Mortgage Activity in the U.S. Drops

Mortgage loan application volume in the U.S. dropped 4 percent over the past week, or 3.9 percent on a seasonally adjusted basis, according to the Mortgage Bankers Association. While the drop was driven by a 5 percent decrease in refinancing activity, which was down 8 percent on a year-over-year... Read More »

Number of Homes for Sale in S.F. Ticks Down, Poised to Jump

Number of Homes for Sale in S.F. Ticks Down, Poised to Jump

Having ticked down 1 percent over the past week with typical seasonality in play, the net number of homes for sale across the city (880) is still running around 40 percent lower than at the same time last year, but with 65 percent more homes on the market than... Read More »

Apples-to-Apples Versus Index for a Coveted One-Bedroom

Apples-to-Apples Versus Index for a Coveted One-Bedroom

Purchased for $1.025 million in June of 2015, the “coveted corner one-bedroom” unit #807 in the One Rincon Hill tower at 425 1st Street returned to the market priced at $975,000 this past July. The 819-square-foot unit features “a sleek, modern open-plan layout,” with a private terrace off the... Read More »

Mortgage Rates Inch Up from Record Lows

Mortgage Rates Inch Up from Record Lows

The average rate for a benchmark 30-year mortgage inched up 10 basis points (0.10 percentage points) over the past week to 2.87 percent, which is still 9 basis points lower than at the same time last year and within 21 basis points of its all-time low. At the same... Read More »

Asking Rents Tick Up in Oakland, But…

Asking Rents Tick Up in Oakland, But…

As projected, the weighted average asking rent for an apartment in Oakland has ticked up around 2 percent over the past two months to around $2,340 a month, representing a total increase of around 3 percent since effectively bottoming in May. That being said, the weighted average asking rent... Read More »

Listings Down in San Francisco, Sales Too

With new listing activity in San Francisco having dropped over 30 percent on a year-over-year basis over the past six weeks, the net number of homes for sale across the city is still 40 percent lower than at the same time last year, but with 50 percent more homes... Read More »

COVID Test Positive Rate Hits a 15-Month High in S.F. [UPDATED]

COVID Test Positive Rate Hits a 15-Month High in S.F. [UPDATED]

The COVID-19 test positivity rate in San Francisco just hit 5.8 percent, which is significantly higher than the 3.7 percent positive rate at the peak of the first wave, in July of 2020, higher than the 5.4 percent positive rate at the peak of the second wave in January... Read More »