Benchmark Mortgage Rate “Stabilizing” Above 6 Percent
With the probability of a rate cut this quarter having dropped, the average rate for a benchmark 30-year mortgage has inched back up to 6.69 percent. At the same time,…
Average New Home Price Drops, Sales Tick Up, Inventory Too
Having dropped 9 percent in November, the seasonally adjusted pace of new single-family home sales in the U.S. ticked back up 8 percent in December and ended the year 4.4…
Masterfully Renovated Noe Valley Home Trades Down
Acquired in an off-market transaction for $6.3 million in the first quarter of 2020, the newly redeveloped Noe Valley view home at 271 Fair Oaks Street, resold for $6.625 million…
Home Sales in San Francisco “Rebound!”
Having dropped to a seven-year low in the absolute earlier this month, despite the average 30-year mortgage rate having dropped a full point, the number of homes in contract to…
Premier Block Pac Heights Condo Trades Down
Purchased for $2.500 million in October of 2019, the 2,280-square-foot unit #1 at 2172 Pacific Avenue, a “house-like, two level condominium…located on a premier flat block of Pacific Heights with…
An “Over Asking” Mid-Market Resale and New Comp!
The 423-square-foot studio unit #211 at 1075 Market Street, a “lovely unit with open floor plan at Stage 1075,” which is “located close to shops, transportation & tech companies,” has…
Inventory Levels Jump, Poised to Keep Climbing
The number of homes on the market in San Francisco jumped another 12 percent over the past week and is poised to keep climbing for at least another month, with…
Nearly 21 Salesforce Towers Worth of Vacant Office Space in S.F.
As we outlined earlier this week, the amount of vacant office space in San Francisco now totals nearly 28 million square feet, having increased by 2 million square feet in…
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Bay Area Employment Dropped in 2023, Still Trending Down
Having dropped by a downwardly revised 1,900 in November, the net number of San Francisco residents with a job dropped by another 1,300 in December to 552,800. As such, there…
New Home Sales Activity Ticks Up but Pace of Sales Drops
As we outlined last month, while application volume for new home loan purchases in the U.S. was up on a year over-year basis in November, the pace of sales had…