CFAH

Articles Filed Under: Trends

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Inventory Levels Keep Climbing in San Francisco

Tracking a couple of trends that shouldn’t have caught any plugged-in readers by surprise, the net number of homes on the market in San Francisco ticked up another 3 percent over the past week and there are now 32 percent more homes on the market than there were at... Read More »

Over 570,000 Bay Area Jobs Have Been Recovered, 79K to Go

Over 570,000 Bay Area Jobs Have Been Recovered, 79K to Go

Having slipped in April, the net number of people living in San Francisco with a paycheck inched up by 1,100 in May to 556,100. As such, there are now 48,900 more employed residents in San Francisco than there were at the same time last year and 77,400 more than... Read More »

Benchmark Mortgage Rate Rockets, Nearing 6 Percent

Benchmark Mortgage Rate Rockets, Nearing 6 Percent

The average rate for a conforming 30-year mortgage rocketed 55 basis points (0.55 percentage points) over the past week to 5.78 percent which is the highest average rate since November of 2008.  As such, the current 30-year rate is now 97 percent higher than at the same time last... Read More »

All Eyes on The Fed and Projected Rate Hike(s), Again

The probability of the Fed raising the federal funds rate by three quarters of a percentage point (75 basis points) this afternoon has jumped from under 10 percent last week to over 95 percent today, based on an analysis of the futures market. As such, the benchmark 30-year mortgage... Read More »

Exceptional and Luxurious View Condo Fetches…

Exceptional and Luxurious View Condo Fetches…

As we outlined back in March, the 2,053-square-foot, three-bedroom unit #3501 in The Avery at 488 Folsom Street, which was purchased for $3.75 million in July of 2019, features “an extra wide open floor plan that creates a light-filled, airy and elegant lifestyle,” with expansive views, three full bathrooms... Read More »

Number of Homes for Sale in San Francisco Up 30 Percent YOY

Number of Homes for Sale in San Francisco Up 30 Percent YOY

Driven by a pronounced slowdown in the pace of sales, the net number of homes on the market in San Francisco is currently 30 percent higher than at the same time last year. In fact, listed inventory levels are nearly 50 percent higher than average over the past decade,... Read More »

Pending Home Sales in San Francisco Down Nearly 30 Percent

As we outlined at the end of May: Having slipped in April, representing an atypical decline in activity in the midst of the traditional spring buying/selling season, the number of single-family homes and condos in contract across San Francisco has dropped 14 percent over the past month despite the... Read More »

Benchmark Mortgage Rate Ticks Back Up, Poised to Climb

Benchmark Mortgage Rate Ticks Back Up, Poised to Climb

Having inched down to 5.09 percent last week, the average rate for a conforming 30-year mortgage has since ticked back up to 5.23 percent which is back to within 7 basis points (0.07 percentage points) of the 670-week high it hit last month. As such, the current 30-year rate... Read More »

Mortgage Application Volume in the U.S. Drops to a 22-Year Low

Mortgage loan application volume dropped another 6.5 percent last week on a seasonally/holiday adjusted basis and 17 percent in the absolute, with a 6 percent adjusted drop in applications to refinance and a 7 percent drop in purchase mortgage activity, according to data from the Mortgage Bankers Association’s. And... Read More »

High-End Condo Reduced to Over 30% Below Its 2018 Price

High-End Condo Reduced to Over 30% Below Its 2018 Price

While not recorded on the MLS, the three-bedroom, three-bath unit #60A at 181 Fremont Street appears to have been purchased for $5,772,672 in May of 2018, based on our review of its deed, as we first outlined a couple of years ago. As we also outlined at the time,... Read More »