Articles Filed Under: Trends

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Pending Home Sales Drop 2.8 Percent Nationally

Pending Home Sales Drop 2.8 Percent Nationally

Having slipped in December, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, dropped 2.8 percent in January to 122.8, representing the fifth consecutive month-over-month decline for the index which peaked at 132.8 in August of... Read More »

Benchmark Mortgage Rate Hits a Six-Month High

Benchmark Mortgage Rate Hits a Six-Month High

Having inched up 8 basis points (0.08 percentage point) to a three-month high last week, the average rate for a benchmark 30-year mortgage has since jumped another 16 basis points to 2.97 percent, which is the highest average rate in six months. That being said, the average 30-year rate... Read More »

Mortgage Loan Activity Drops

Having slipped earlier this month, mortgage loan activity across the U.S. dropped 10 percent over the past week, with purchase loan activity dropping 8 percent and refinancing activity down 11 percent, according to the Mortgage Bankers Association. That being said purchase activity is still 7 percent higher than at... Read More »

San Francisco Qualifies for “Red” Tier Status [UPDATED]

San Francisco Qualifies for “Red” Tier Status [UPDATED]

With the 7-day average number of daily new COVID-19 cases diagnosed in San Francisco having dropped to 82, which is the lowest 7-day average in over 3 months and nearly 40 percent below the first peak back in July, the city’s adjusted case rate, which takes into account testing... Read More »

Index for Bay Area House Values Holds, Condo Values Slip

Index for Bay Area House Values Holds, Condo Values Slip

Having inched up an upwardly revised 0.9 percent in November, 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 – was unchanged in December, ending the year 8.7 percent higher on a year-over-year... Read More »

Number of Homes on the Market in San Francisco Ticks Up

With the number of new listings having outpaced the number of new contracts written over the past week, the total number of homes on the market in San Francisco ticked up 5 percent in the absolute to 990. As such, overall inventory levels are now 45 percent higher than... Read More »

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

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

The seasonally adjusted pace of existing-home sales across the U.S. inched up a revised 0.6 percent in January to an annual rate of 6.69 million sales, which is 23.7 percent higher than at the same time last year, according to the National Association of Realtors. At the same time,... Read More »

Listing Activity for Rentals in San Francisco Drops, But…

Listing Activity for Rentals in San Francisco Drops, But…

As we outlined last week, leasing activity across a sample of ten (10) of the larger apartment buildings we’re tracking in San Francisco has ticked up, driving the average vacancy rate for the cross section of 3,600 units down to around 7.5 percent, driven by aggressive discounting and incentives... Read More »

Benchmark Mortgage Rate Hits a “Three-Month High”

Benchmark Mortgage Rate Hits a “Three-Month High”

Having held at 2.73 percent for a couple of weeks, the average rate for a benchmark 30-year mortgage has since inched up 8 basis points to 2.81 percent. And while that’s the “highest average rate since mid-November,” it’s still 68 basis points below its mark at the same time... Read More »

Rarely Available View Condo Listed for 19 Percent Less

Rarely Available View Condo Listed for 19 Percent Less

Purchased for $2.125 million in April of 2016, the “rarely available,” two-bedroom, two-bath condo #17E in the LUMINA tower at 338 Main Street was offered for rent at $7,000 a month in 2018. After a year as a rental, the unit returned to the market priced at $2.4 million... Read More »