Articles Filed Under: Trends

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Bay Area Employment Slips, Unemployment Inches Up Anew

Bay Area Employment Slips, Unemployment Inches Up Anew

Having inched up in October, the number of people living in San Francisco with a paycheck was unchanged in November and remains at a record 580,000 with an unemployment rate of 1.9 percent. As such, there are 7,800 more people living in the city with paychecks than there were... Read More »

Pace of Existing-Home Sales in the U.S. Slips

Pace of Existing-Home Sales in the U.S. Slips

Having ticked up 1.9 percent in October, the seasonally adjusted pace of existing-home sales across the U.S. retreated 1.7 percent in November to an annual rate of 5.35 million sales, which is still 2.7 percent above its mark at the same time last year, but versus 4.6 percent higher... Read More »

Reductions on the Rise, Let us Count the Ways…

With roughly 29 percent of the homes currently listed for sale in San Francisco have been reduced at least once, which is three percentage points higher than at the same time last year, we turn our attention to the various verbiage and positioning now in play. There’s the straightforward... Read More »

Lavishly Remodeled Loft Fails to Fetch Its 2014 Price

Lavishly Remodeled Loft Fails to Fetch Its 2014 Price

Purchased for $1.18 million in late 2014, the lavishly remodeled unit #1 in the former Smitty Knitting Factory building at 75 Lansing Street, a 1,400-square-foot unit which features Venetian plaster, Italian tile, exotic wood finishes, returned to the market priced at $1.295 million this past June, a sale at... Read More »

Luxury Two-Bedroom Fetches $225K Less

Luxury Two-Bedroom Fetches $225K Less

As we outlined in September, having sold for $2.425 million in April of 2016 (with 35 percent down and a below average 2.848 percent interest rate on a $1.58 million loan), the two-bedroom unit #22E in the LUMINA tower at 338 Main Street returned to the market priced at... Read More »

Benchmark Mortgage Rate Inches Up, Fed Signals a Pause

Benchmark Mortgage Rate Inches Up, Fed Signals a Pause

The average rate for a 30-year mortgage inched up 5 basis points over the past week to 3.73 percent but remains 90 basis points (0.90 percentage points) below its mark at the same time last year and within 32 basis points of a three/six-year low, according to Freddie Mac’s... Read More »

Pending Home Sales Tick up in San Francisco, Inventory Drops

Having peaked at an 8-year high in October, the number of homes on the market in San Francisco has since dropped 40 percent and is now running 13 percent lower than at the same time last year, driven by a combination of normal seasonality, a slowdown in new listing... Read More »

Mortgage Rates Hold, Probability of a Hike Back Under a Percent

Mortgage Rates Hold, Probability of a Hike Back Under a Percent

The average rate for a 30-year mortgage has been little changed over the past two weeks and is currently holding at 3.68 percent, which is 107 basis points (1.07 percentage points) below its mark at the same time last year, and within 27 basis points of a three/six-year low,... Read More »

“Over Asking” at The Ritz (But at a Real Big Loss)

“Over Asking” at The Ritz (But at a Real Big Loss)

As we outlined earlier this year: Purchased as new for $1.53 million, or roughly $1,284 per square foot, in early 2008, right as the Great Recession was picking up steam, the two-bedroom Ritz-Carlton Residences unit #1702 at 690 Market Street returned to the market in early 2015 priced at... Read More »

Pace of Pending Home Sales in the U.S. Drops

Pace of Pending Home Sales in the U.S. Drops

Having ticked up 1.5 percent in September, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, dropped 1.7 percent in October to 106.7. On a year-over-year basis, however, the pace of new contract signings across the U.S. is running 4.4... Read More »