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Articles Filed Under: Trends

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Price Cuts Continue to Tick Up in San Francisco

Having peaked a few weeks ago at an effective 12-year high, the net number of homes on the market in San Francisco (i.e., inventory/supply) has since ticked down 1 percent to 1,470 but remains 22 percent higher than at the same time last year and over 50 percent higher... Read More »

Million Dollar (Plus) Price Cut for a Modern Day Classic Home

Million Dollar (Plus) Price Cut for a Modern Day Classic Home

Designed by Bruce E. Heiser, built in 1970 and since “transformed into a modern day classic,” the 4,057-square-foot West Clay Park home at 164 24th Avenue, which features a mid-century modern vibe and ethos, with some beautiful woodwork, a retractable central skylight and views of the Golden Gate Bridge... Read More »

Benchmark Mortgage Rate Surpasses 7 Percent

Benchmark Mortgage Rate Surpasses 7 Percent

Having hit a 20-year high of 6.92 percent two weeks ago, the average rate for a benchmark 30-year mortgage has since ticked up another 16 basis points (0.16 percentage points) to 7.08 percent, an average rate which is 125 percent higher than at the same time last year, 167... Read More »

Purchase Mortgage Activity Down Over 40 Percent, Locally Too

Having dropped to a 25-year low last week, mortgage loan application volume in the U.S. has since ticked down another 2 percent, driven by a 3 percent drop in purchase mortgage activity, which is now down 42 percent on a year-over-year basis and at its lowest level since 2015,... Read More »

Pace of New Home Sales Drops Despite Inventory Gains

Pace of New Home Sales Drops Despite Inventory Gains

Having bounced in August, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 10.9 percent in September to an annualized rate of 603,000 sales, which is 17.6 percent lower than at the same time last year; 37.9 percent below the pace of sales in September... Read More »

Drop in Bay Area House Values Is Really Accelerating

Drop in Bay Area House Values Is Really Accelerating

Having dropped 3.5 percent in July, 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 – fell another 4.3 percent in August, which was the largest month-over-month decline for the index since February... Read More »

Bernal Heights Dwelling Appreciated 1.5 Percent per Year

Bernal Heights Dwelling Appreciated 1.5 Percent per Year

As we highlighted last month: Purchased for $1.5 million in November of 2013, the 1,253-square-foot Dwell-ing at 330 Banks Street resold for $1.7 million in February of 2017, representing total appreciation of 13.3 percent over those three and a quarter years on an apples-to-apples basis, despite the “short term... Read More »

Office Vacancy Rate in Oakland’s City Center Ticks Over 33%

Office Vacancy Rate in Oakland’s City Center Ticks Over 33%

Having ticked down from 18.1 percent at the end of last year to 16.3 percent three months ago, the office vacancy rate in the East Bay, not including Walnut Creek or further east, has ticked back up to 17.3 percent, with net negative absorption of 269,000 square feet of... Read More »

Nearly 40 Percent of Active Listings in S.F. Have Been Reduced

While the net number of homes on the market in San Francisco (i.e., inventory) is holding at an effective 12-year high, having peaked a few weeks ago, as projected, the percentage of said homes which have undergone at least one price reduction has ticked up to 37 percent. That’s... Read More »

Bay Area Employment Holds, Inches Down in San Francisco

Bay Area Employment Holds, Inches Down in San Francisco

While the number of people living in San Francisco with a paycheck typically ticks up by a few thousand in September, net employment inched down by 600 last month to 565,200. But with 2,000 people having left the local labor force, the unemployment rate inched down from 2.3 to... Read More »