CFAH

Articles Filed Under: Trends

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Pace of New Home Sales Drops, Inventory Climbs

Pace of New Home Sales Drops, Inventory Climbs

Having ticked down an upwardly revised 1.2 percent in February, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.6 percent in March to an annualized rate of 763,000 sales. As such, the pace of sales last month was 12.6 percent lower than at the... Read More »

Index for Bay Area House Values Up Nearly 23 Percent YOY

Index for Bay Area House Values Up Nearly 23 Percent YOY

Having increased 2.4 percent in January, 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 – ticked up another 3.7 percent in February for a year-over-year gain of 22.9 percent, three points above... Read More »

Inventory Levels Tick Back Up in San Francisco

Having ticked down last week, the net number of homes on the market in San Francisco (i.e., inventory) has since ticked back up to an 11-year seasonal high, driven by a rebound in new listing activity as well as a continued slowdown in sales. As such, there are now... Read More »

Benchmark Mortgage Rate Just Hit a 12-Year High

Benchmark Mortgage Rate Just Hit a 12-Year High

Having hit 5 percent for the first time in over a decade last week, the average rate for a benchmark 30-year mortgage has since ticked up another 11 basis points (0.11 percentage points) to 5.11 percent, which is 214 basis points and over 70 percent higher than at the... Read More »

Pace of Existing Home Sales Drops Again, Inventory Ticking Up

Having dropped 7.2 percent in February, the seasonally adjusted pace of existing-home sales across the U.S. ticked down another 2.7 percent in March to an annual rate of 5.77 million sales and was down 4.5 percent on a year-over-year basis, according to the National Association of Realtors (NAR) and... Read More »

Visualizing All the Vacant Office Space in San Francisco

Visualizing All the Vacant Office Space in San Francisco

As we outlined last week, the amount of vacant office space in San Francisco has ticked up to a pandemic high of 18.7 million square feet versus under 5 million square feet prior to the pandemic. For context, the 1,070-foot-tall Salesforce/Transbay tower at First and Mission, which is the... Read More »

Mortgage Activity Drops with a Pullback in Demand

Mortgage loan application volumes in the U.S. dropped another 5 percent over the past week on a seasonally adjusted basis and 4 percent in the absolute, with an 8 percent drop in applications to refinance and a 3 percent drop in purchase activity, according to data from the Mortgage... Read More »

Spring Inventory Levels Might Have Peaked in San Francisco

While one week doesn’t make for a trend, the net number of homes on the market in San Francisco (i.e., inventory) ticked down a few percent over the past week from an 11-year seasonal high, driven by a pronounced slowdown in new listing activity versus an uptick in sales.... Read More »

Office Vacancy Rate in San Francisco Hits a Pandemic High

Office Vacancy Rate in San Francisco Hits a Pandemic High

Having inched down to just under 20 percent at the end of last year, the effective office vacancy rate in San Francisco ticked back up to a pandemic high of 21.7 percent in the first quarter of 2022, representing 18.7 million square feet of vacant office space in the... Read More »

Bay Area Employment Within 3 Percent of Pre-Pandemic Count

Bay Area Employment Within 3 Percent of Pre-Pandemic Count

Having increased by a (downwardly revised) 8,100 in February, the net number of people living in San Francisco with a paycheck increased by 6,800 in March to 557,600, representing 52,600 more employed residents in the city than there were in March of last year and 78,900 more than in... Read More »