Number of Homes for Sale in San Francisco Poised to Jump
The net number of homes on the market in San Francisco (i.e., inventory) has effectively held at 1,140 over the past two weeks despite typically dropping over 10 percent at…
Benchmark Mortgage Rate Surges Back Over 5.5 Percent
Having dropped under 5 percent for the first time in four months three weeks ago, the average rate for a benchmark 30-year mortgage has since surged 56 basis points (0.56…
Purchase Activity at the High End of the Market Is Weakening
Mortgage loan application volume in the U.S. dropped another 3.0 percent over the past week from what was already a 22-year low, with a 2 percent drop in purchase mortgage…
Pace of New Home Sales in the U.S. Has Tanked
Having dropped a downwardly revised 7.3 percent in June, the seasonally adjusted pace of new single-family home sales in the U.S. fell another 12.6 percent in July to an annualized…
Decline in U.S. Home Sales Is Accelerating, Median Price Drops
Having dropped 5.4 percent in June, the seasonally adjusted pace of existing-home sales across the U.S. dropped another 5.9 percent in July to an annual rate of 4.81 million sales,…
Purchase Activity for New Homes in the U.S. Continues to Drop
Despite the fact that the number of new homes on the market across the U.S. is over 30 percent higher than at the same time last year, with the most…
Bay Area Employment Nearly Back to Its Pre-Pandemic Count
Having slipped in June, the net number of people living in San Francisco with a paycheck increased by 9,800 in July to 564,200. As such, there are not only 42,300…
Mortgage Applications Drop with Rapidly Drying Up Demand
Having inched up 0.2 percent on a seasonally adjusted basis last week, mortgage loan application volume in the U.S. has since dropped 3.0 percent in the absolute or 2.3 percent…
Number of Homes for Sale in San Francisco Drops, But…
Having hit a seasonal peak last month, which shouldn’t have caught any plugged-in readers by surprise, the net number of homes on the market in San Francisco (i.e., inventory) has…
Benchmark Mortgage Rate Jumps Back Over 5 Percent
Having dropped under 5 percent for the first time in four months last week, driven by an “increased risk of a formal recession and declining consumer confidence overall,” the average…