Articles Filed Under: Trends

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Index for Bay Area Home Values Drops Despite Gains Nationwide

Index for Bay Area Home Values Drops Despite Gains Nationwide

Having turned negative last month, 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 – has shed another 0.6 percent, an outcome which shouldn’t catch any plugged-in readers by surprise. As such, the... Read More »

Reduced Listings Tick Up in SF, Pending Sales as Well

The share of homes currently listed for sale in San Francisco that have undergone at least one price reduction has ticked up to 32 percent, which is 5 percentage points higher than at the same time last year and the highest percentage of listings with an official price cut... Read More »

Mortgage Rates Dip, Fed Uncertainty in Play

Mortgage Rates Dip, Fed Uncertainty in Play

The average rate for a 30-year mortgage dropped 9 basis points over the past week and now measures 3.66 percent, which is 3 basis points lower than two weeks ago, according to Freddie Mac’s latest Mortgage Market Survey. As such, the 30-year rate is now 115 basis points (1.15... Read More »

Pace of Existing U.S. Home Sales Ticks Back Up, Slips out West

Pace of Existing U.S. Home Sales Ticks Back Up, Slips out West

Having dropped 2.2 percent in September, the seasonally adjusted pace of existing-home sales across the U.S. ticked up 1.9 percent in October to an annual rate of 5.46 million sales, which is 4.6 percent above its mark at the same time last year, according to the National Association of... Read More »

Speaking of Price Cuts in San Francisco…

Speaking of Price Cuts in San Francisco…

Speaking of active listings for properties in San Francisco with at least one reduction, the percentage of which has just hit a three-year high, the list price for the 1,136-square-foot, two-bedroom unit #309 at 72 Townsend Street, which also comes with a private 605-square-foot terrace and a deeded parking... Read More »

Reductions Continue to Rise in SF as Inventory Levels Drop

Reductions Continue to Rise in SF as Inventory Levels Drop

Having peaked last month at an 8-year high, as expected, the number of homes on the market in San Francisco has since dropped a seasonally driven 19 percent to 840 and is currently running 3 percent lower than at the same time last year. At the same time, the... Read More »

Bay Area Employment Slips, Unemployment Inches Up

Bay Area Employment Slips, Unemployment Inches Up

Having benefited from a seasonal bump in the onboarding of new graduates in September, the number of people living in San Francisco with a paycheck inched up by another 100 in October and now totals a record 579,900. But with a labor force that increased by 900 over the... Read More »

Prevalence of Price Cuts on the Rise in San Francisco

As is typical for early November, the number of homes on the market in San Francisco has ticked down 2 percent over the the past week to 930, which is dead even with the same time last year. At a more granular level, the number of condos listed for... Read More »

Let the Bargaining Begin

Let the Bargaining Begin

While it failed to sell in 2011, having been “lavishly remodeled” with Venetian plaster, Italian tile, exotic woods and a floor plan “inspired by a Feng Shui Master,” the 1,400-square-foot unit #1 in the former Smitty Knitting Factory building at 75 Lansing Street ended up trading for $1.18 million... Read More »

Mortgage Rates Drop, Probability of a Rate Hike: Zero

Mortgage Rates Drop, Probability of a Rate Hike: Zero

As we expected, the average rate for a 30-year mortgage dropped 9 basis points over the past week and now measures 3.69 percent, according to Freddie Mac’s latest Mortgage Market Survey. And as such, the 30-year rate is now 125 basis points (1.25 percentage points) below its mark at... Read More »