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Articles Filed Under: Real Estate Economics

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Apples-To-Apples for a High-End Pacific Heights Condo

Apples-To-Apples for a High-End Pacific Heights Condo

Purchased for $2.8 million, or roughly $2,113 per square foot, in May of 2017, the two-bedroom, two-bath unit #503 in The Pacific at 2121 Webster Street returned to the market priced at $3.295 million this past August. The 1,325-square-foot unit features “high ceilings, custom light fixtures, power-operated shades, air-conditioning,... Read More »

Number of Homes for Sale in San Francisco Jumps

With around 400 homes listed for sale in San Francisco over the past week, which is the most new listings in a week in over 15 years, the net number of homes for sale in the city jumped over 30 percent to 1,070, as projected, yielding the most for... Read More »

New Unemployment Claims Drop but Remain Historically High

New Unemployment Claims Drop but Remain Historically High

The number of new unemployment claims filed across the Bay Area dropped to 126,835 in July, which was the fewest new claims in a month since the pandemic hit, down from a pandemic high of 441,813 in March of last year and versus an average of 190,400 a month... Read More »

Mortgage Rates Are Holding, Application Volumes Have Dropped

Mortgage Rates Are Holding, Application Volumes Have Dropped

The average rate for a benchmark 30-year mortgage has inched up a total of 1 basis point (0.01 percentage point) over the past two weeks to 2.88 percent, which is only 2 basis points above the benchmark rate at the same time last year and within 22 basis points... Read More »

Purchase Mortgage Activity Continues to Drop in the U.S.

Mortgage loan application volumes to either purchase or refinance a home in the U.S. dropped another 3 percent over the past week, or a combined 1.9 percent on a seasonally adjusted basis, according to the Mortgage Bankers Association. As such, purchase mortgage activity in the U.S. is back to... Read More »

Home Buying Activity in S.F. Just Slipped Year-Over-Year

As we noted two weeks ago, pending home sales activity in San Francisco, which peaked in April, was on track to drop on a year-over-year basis “within the next few weeks.” And in fact, for the first time since June of last year, there are fewer single-family homes and... Read More »

Rents in San Francisco Are Up 10 Percent

Rents in San Francisco Are Up 10 Percent

Despite some recent misreports to the contrary, apartment rents in San Francisco have not risen 18 percent since the start of the year. The weighted average asking rent for an apartment in the city has rebounded around 10 percent from its pandemic-era low last quarter, however, including a 1... Read More »

Apples-to-Apples Versus The Index for a Luxury Two-Bedroom

Apples-to-Apples Versus The Index for a Luxury Two-Bedroom

Purchased for $1.945 million in April of 2018, the two-bedroom, two-bath unit #27B in the Lumina tower at 201 Folsom Street, which “exemplifies urban luxury,” with high-end finishes and city views, returned to the market listed for $2.099 million in February of 2019. Subsequently reduced to $1.999 million while... Read More »

Index for Bay Area House Values Up 22.1 Percent YOY

Index for Bay Area House Values Up 22.1 Percent YOY

Having ticked up 2.6 percent in May, 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 – ticked up another 2.6 percent in June and is now up 21.9 percent on a year-over-year... Read More »

Pending Home Sales Drop, Inventory Ticking Up

Pending Home Sales Drop, Inventory Ticking Up

Having dropped 1.9 percent in June, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, dropped another 1.8 percent in July to 110.7 and is now down 8.5 percent on a year-over-year basis, a sharp reversal... Read More »