Articles Filed Under: Trends

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The Fed Just Cut Rates (For the Third Time This Year)

As predicted, the Federal Reserve just cut the benchmark Federal Funds rate by another 25 basis points (0.25 percentage points), the third such rate cut this year. Having dropped its benchmark rate a total of 5 percentage points between August of 2007 and the end of 2008, a move... Read More »

Appreciation for Bay Area Homes Turns Negative

Appreciation for Bay Area Homes Turns Negative

For the first time since early 2012, 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 dropped on a year-over-year basis, an outcome which shouldn’t catch any plugged-in readers by surprise.... Read More »

Pending U.S. Home Sales Tick Up, Slip Out West

Pending U.S. Home Sales Tick Up, Slip Out West

Having ticked up 1.6 percent in August, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, ticked up another 1.5 percent in September to 108.7. As such, the pace of new contract signings across the U.S. is now 3.9 percent... Read More »

Inventory Levels Start to Wane, Reductions Continue to Rise

Having hit its seasonal peak and an absolute 8-year high last week, which shouldn’t have caught any plugged-in readers by surprise, the number of homes on the market in San Francisco has since ticked down 3 percent to 1,010 but remains 4 percent higher than at the same time last year.... Read More »

More Cuts for Luxury Condos Already Listed at a Loss

More Cuts for Luxury Condos Already Listed at a Loss

Purchased from the sales office for $1.57 million in February of 2016, the 993-square-foot, one-plus-bedroom unit #8J atop the Lumina plaza building at 333 Beale Street returned to the market priced at $1.449 million this past September. In addition to twelve-foot ceilings, two “spa-inspired bathrooms” and a modern kitchen... Read More »

Asking Rents Tick up in Oakland, Slip in San Francisco

Asking Rents Tick up in Oakland, Slip in San Francisco

The weighted average asking rent for an apartment in San Francisco, including one-off rentals as well as units in larger developments, slipped another (1) percent over the past month with a bit of seasonality in play and now measures around $4,250 per month having peaked at around $4,450 per... Read More »

Pace of New Home Sales in the U.S. Slips, Median Price Drops

Having rebounded a downwardly revised 5.4 percent in August, the pace of new single-family home sales in the U.S. slipped 0.7 percent in September to a seasonally adjusted rate of 701,000 sales but remains 15.5 percent higher than at the same time last year. At the same time, the... Read More »

Mortgage Rates Tick Up, Rate Cut Nearly Certain

Mortgage Rates Tick Up, Rate Cut Nearly Certain

Having jumped 12 basis points last week, the average rate for a 30-year mortgage has since ticked up another 6 basis points and now measures 3.75 percent. That being said, the average 30-year rate remains 111 basis points (1.11 percentage points) below its mark at the same time last... Read More »

Home Sales in San Francisco Poised to Drop, Again

Having dropped 9.0 percent on a year-over-year basis in August, recorded home sales in San Francisco are poised to drop again in September. And that’s despite the fact that September home sales in San Francisco were the lowest in over 15 years in 2018. In fact, if recorded sales... Read More »

Office Vacancy Rate in Oakland Ticks Up, But…

Office Vacancy Rate in Oakland Ticks Up, But…

The vacancy rate for East Bay office space around Oakland has ticked up from 9.5 percent at the beginning of the year to 11.9 percent today, driven by the delivery of 600,000 square feet of new space at 601 City Center in Downtown Oakland, half of which was pre-leased... Read More »