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Articles Filed Under: Trends

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Office Vacancy Rate in the East Bay Eases, First Drop Since 2019

Office Vacancy Rate in the East Bay Eases, First Drop Since 2019

Having ticked over 18 percent at the end of last year, the office vacancy rate in the East Bay, not including Walnut Creek or further east, inched down to 17.3 percent in the first quarter of 2022, representing the first decline in the vacancy rate since late 2019 (at... Read More »

Purchase Activity for New Homes Down Despite More Inventory

Purchase Activity for New Homes Down Despite More Inventory

Mortgage loan application volume to purchase a new home in the U.S. ticked up 10 percent from February to March with typical seasonality in play. That being said, application volumes were down 5 percent on a year-over-year basis, reflecting an additional 1.1 point drop in year-over-year activity from February... Read More »

Another Chic “Over Asking!” Sale (at an Actual Loss)

Another Chic “Over Asking!” Sale (at an Actual Loss)

The “chic” and contemporary one-bedroom unit #405 in the Rowan at 338 Potrero Avenue, “a welcome oasis for the urban dweller who appreciates thoughtful use of space, a modern vibe, and great access for commuting,” just sold for $775,000 or $1,194 per square foot. And with the list price... Read More »

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

The average rate for a benchmark 30-year mortgage jumped another 28 basis points (0.28 percentage points) over the past week to 5.00 percent, which is 196 basis points and over 60 percent higher than at the same time last year, over two (2) full percentage points higher than in... Read More »

Newfound Transparency Near the Top of an Infinity Tower

Newfound Transparency Near the Top of an Infinity Tower

Purchased for $2.4 million in September of 2018, the two-bedroom, two-bath unit #40E near the top of the Infinity tower at 338 Spear Street, a 1,588-square-foot unit which features an open floor plan, large bedroom suite, two private decks, panoramic views and a parking spot in the building’s garage... Read More »

Number of Homes for Sale in San Francisco Climbs

Number of Homes for Sale in San Francisco Climbs

Having hit an 11-year seasonal high last week, the net number of homes on the market in San Francisco (i.e., inventory) has since ticked up another 8 percent, driven by a continued slowdown in the pace of sales along with an increase in listing activity and price reductions on... Read More »

Supersized Development Seeks More Parking, Here’s Why…

Supersized Development Seeks More Parking, Here’s Why…

Plans for a supersized building to rise across the two Hayes Valley parcels at 618-630 Octavia Street have been in the works since 2019, as we first reported at the time. Since redesigned and then further refined by Handel Architects to yield 40 condos, a mix of 12 one-bedrooms,... Read More »

Benchmark Mortgage Rate Over 50 Percent Higher YOY

Benchmark Mortgage Rate Over 50 Percent Higher YOY

The average rate for a benchmark 30-year mortgage ticked up another 5 basis points (0.05 percentage points) over the past week to 4.72 percent, which is 159 basis points, or 51 percent, higher than at the same time last year. As such, the 30-year rate is now within 23... Read More »

Mortgage Activity in the U.S. Continues to Drop

Mortgage loan application volumes in the U.S. dropped another 6.3 percent over the past week on a seasonally adjusted basis and 6 percent in the absolute, according to data from the Mortgage Bankers Association. On a more granular basis, applications to refinance dropped another 10 percent over the past... Read More »

Pace of Home Sales in San Francisco Slips

The number of single-family homes and condos in contract across San Francisco slipped a percent over the past week, representing an atypical decline in activity in the midst of the spring buying/selling season and despite posturing that a jump in mortgage rates would actually spur more activity as buyers... Read More »