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Articles Filed Under: Real Estate Economics

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Index for Bay Area House Values Gains, Condos Inch Up

Index for Bay Area House Values Gains, Condos Inch Up

Having ended last year up 18.8 percent, 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 – gained another 2.4 percent in January for a year-over-year gain of 20.9 percent, slightly above a... Read More »

S.F.’s Housing Pipeline Back to Within 2 Percent of Peak, But…

S.F.’s Housing Pipeline Back to Within 2 Percent of Peak, But…

The number of units in San Francisco’s housing pipeline increased by nearly 3,000 in the fourth quarter of 2021 to 72,500, which effectively equals the pipeline count in the fourth quarter of 2020 and is within 1,300 units of the record 73,800 units which were in the works in... Read More »

Make that Nine and a Near Decade High

With the probability of the Federal Reserve raising interest rates by another two (2) full percentage points by the end of the year having jumped last week, the probability of the Fed adopting a total of nine (9) more quarter point hikes within the next nine months, the probability... Read More »

Number of Homes on the Market in San Francisco Holds

Number of Homes on the Market in San Francisco Holds

With the current pace of home sales in San Francisco still down over 10 percent on a year-over-year basis, the net number of homes on the market (930) has effectively held at a 10-year seasonal high over the past few weeks, matching last year’s inventory levels. At the same... Read More »

Bay Area Employment Back to 96 Percent of Pre-Pandemic Count

Bay Area Employment Back to 96 Percent of Pre-Pandemic Count

Having been downwardly revised, the net number of people living in San Francisco with a paycheck actually slipped by a thousand in January but then rebounded by 8,500 in February to 551,200, representing 48,400 more employed residents in the city than there were in February of last year and... Read More »

Pending Home Sales Drop, “Fast-Changing Conditions” Ahead

Pending Home Sales Drop, “Fast-Changing Conditions” Ahead

Having dropped 5.7 percent in January, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, “dwindled” another 4.1 percent last month to 104.5, which was 5.4 percent lower than at the same time last year and... Read More »

List Price Reductions on the Rise in San Francisco

The percentage of homes on the market in San Francisco which have undergone at least one official price reduction ticked up four (4) percentage points over the past week to 21 percent, which is an atypical increase for this time of the year. At the same time, the average... Read More »

Mortgage Rates Rocket to 3-Year Highs, Primed to Climb

Mortgage Rates Rocket to 3-Year Highs, Primed to Climb

The average rate for a benchmark 30-year mortgage jumped another 26 basis points (0.26 percentage points) over the past week to 4.42 percent, which is nearly 40 percent (125 basis points) higher than at the same time last year and the highest average rate since January of 2019. At... Read More »

Pace of New Home Sales in the U.S. Drops, Inventory Up

Pace of New Home Sales in the U.S. Drops, Inventory Up

Having dropped a downwardly revised 8.4 percent in January, the seasonally adjusted pace of new single-family home sales in the U.S. ticked down another 2.0 percent in February to an annualized rate of 772,000 sales.  As such, the current pace of sales is 6.2 percent lower than at the... Read More »

Bay Area Unemployment Claims Near Pre-Pandemic Levels

Bay Area Unemployment Claims Near Pre-Pandemic Levels

While the number of new unemployment claims filed across the Bay Area inched up in January to 36,803, which was still 24 percent higher than in January of 2020, prior to the pandemic having hit the local economy, the number of new claims filed in February dropped to 26,414,... Read More »