Articles Filed Under: Real Estate Economics

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Appreciation for Bay Area Homes Turns Negative

Appreciation for Bay Area Homes Turns Negative

For the first time since early 2012, 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 – has dropped on a year-over-year basis, an outcome which shouldn’t catch any plugged-in readers by surprise.... Read More »

Inventory Levels Start to Wane, Reductions Continue to Rise

Having hit its seasonal peak and an absolute 8-year high last week, which shouldn’t have caught any plugged-in readers by surprise, the number of homes on the market in San Francisco has since ticked down 3 percent to 1,010 but remains 4 percent higher than at the same time last year.... Read More »

Asking Rents Tick up in Oakland, Slip in San Francisco

Asking Rents Tick up in Oakland, Slip in San Francisco

The weighted average asking rent for an apartment in San Francisco, including one-off rentals as well as units in larger developments, slipped another (1) percent over the past month with a bit of seasonality in play and now measures around $4,250 per month having peaked at around $4,450 per... Read More »

Pace of New Home Sales in the U.S. Slips, Median Price Drops

Having rebounded a downwardly revised 5.4 percent in August, the pace of new single-family home sales in the U.S. slipped 0.7 percent in September to a seasonally adjusted rate of 701,000 sales but remains 15.5 percent higher than at the same time last year. At the same time, the... Read More »

Mortgage Rates Tick Up, Rate Cut Nearly Certain

Mortgage Rates Tick Up, Rate Cut Nearly Certain

Having jumped 12 basis points last week, the average rate for a 30-year mortgage has since ticked up another 6 basis points and now measures 3.75 percent. That being said, the average 30-year rate remains 111 basis points (1.11 percentage points) below its mark at the same time last... Read More »

Inventory Levels Inch Up, Reductions on the Rise

With the number of homes newly listed for sale over the past week having outpaced the number of new contracts written, the inventory of homes on the market in San Francisco has ticked up one (1) percent to 1,040, which is 8 percent higher than at the same time... Read More »

Bay Area Unemployment Rates Drop to Record Lows

Bay Area Unemployment Rates Drop to Record Lows

Benefiting from a seasonal bump in the onboarding of new graduates, the number of people living in San Francisco with a paycheck increased by 7,100 in September and now totals a record 580,800. And with a labor force of 591,400, the unemployment rate has dropped to a record low... Read More »

Mortgage Rates Rebound, Probability of a Rate Cut Hits 90 Percent

Mortgage Rates Rebound, Probability of a Rate Cut Hits 90 Percent

Having ticked down 16 basis points since mid-September, the average rate for a 30-year mortgage jumped 12 basis points over the past week and now measures 3.69 percent. That being said, the average 30-year rate remains 116 basis points (1.16 percentage points) below its mark at the same time... Read More »

Number of Homes for Sale in San Francisco Has Likely Peaked

Number of Homes for Sale in San Francisco Has Likely Peaked

Having hit an 8-year high last month, the number of homes on the market in San Francisco has since ticked up another 5 percent to 1,030, which is 6 percent higher than at the same time last year. While the year-over-year gain in inventory levels is still being driven... Read More »

Housing Pipeline in San Francisco Slips but Building Actually Jumps

Housing Pipeline in San Francisco Slips but Building Actually Jumps

With the number of newly built units of housing in San Francisco having outpaced the number of newly proposed units of housing to be built in San Francisco for the first time since mid-2017, albeit by a nominal amount, the overall pipeline of apartments and condos under development in... Read More »