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Articles Filed Under: Trends

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New Home Inventory Hits a 13-Year High, Sales Down YOY

New Home Inventory Hits a 13-Year High, Sales Down YOY

Having jumped a downwardly revised 7.1 percent in September, the seasonally adjusted pace of new single-family home sales in the U.S. inched up 0.4 percent last month to an annualized rate of 745,000 homes but was down 23.1 percent on a year-over-year basis and 25 percent lower than at... Read More »

Mortgage Loan Application Volumes Slip, Down Year-Over-Year

Mortgage loan application volumes to either purchase or refinance a home in the U.S. ticked up 1.8 percent on a seasonally adjusted basis over the past week but slipped 0.1 percent in the absolute, with a 0.4 percent decrease in applications to purchase a home, according to the Mortgage... Read More »

Re-Opening of San Francisco’s Economy, November Report

Re-Opening of San Francisco’s Economy, November Report

While local bridge traffic is back to around 90 percent of its pre-Covid volume, BART ridership is still down by nearly 80 percent and weekly office attendance within the San Francisco Metropolitan area – which includes Alameda, Contra Costa, Marin, San Francisco and San Mateo counties – is still... Read More »

Pace of Existing Home Sales in the U.S Inches Up, But…

Pace of Existing Home Sales in the U.S Inches Up, But…

Having ascended 7.0 percent in September, the seasonally adjusted pace of existing-home sales across the U.S. inched up 0.8 percent in October to an annual rate of 6.34 million sales. But sales were down 5.8 percent on a year-over-year basis, representing the third straight month of year-over-year declines, the... Read More »

Number of Homes on the Market in S.F. Continues to Drop

The net number of homes on the market in San Francisco dropped another 9 percent over the past week to 930, as was to be expected, and listed inventory levels are now 45 percent lower than they were at the same time last year. That being said, inventory levels... Read More »

459,000 Bay Area Jobs Have Been Recovered, 192,000 Left to Go

459,000 Bay Area Jobs Have Been Recovered, 192,000 Left to Go

Having increased by an upwardly revised 6,600 in September, the net number of people living in San Francisco with a paycheck increased by 4,200 in October to 540,200, dropping the unemployment rate to 3.9 percent with 31,500 more employed residents in the city than there were at the same... Read More »

Benchmark Mortgage Rate Ticks Back Over 3 Percent

Benchmark Mortgage Rate Ticks Back Over 3 Percent

Having slipped back under 3 percent last week, the average rate for a benchmark 30-year mortgage has since ticked up 12 basis points (0.12 percentage points) to 3.10 percent, which is 38 basis points above its mark at the same time last year and shouldn’t have caught any plugged-in... Read More »

Mortgage Loan Application Volumes Tick Down

Mortgage loan application volumes to either purchase or refinance a home in the U.S. ticked down 2.8 percent on a seasonally adjusted basis over the past week and were down 4 percent in the absolute, with a 5 percent drop in refinancing activity and a 2 percent drop in... Read More »

Purchase Activity for New Homes in the U.S. Down 15.2 Percent

While mortgage application activity for new home purchases in the U.S. ticked up 6 percent in October, application volumes were down 15.2 percent on a year-over-year basis according to the Mortgage Bankers Association and despite the fact that inventory levels were up 32.2 percent, year-over-year, and holding at a... Read More »

Number of Homes on the Market in S.F. Down 44 Percent, But…

Number of Homes on the Market in S.F. Down 44 Percent, But…

Having peaked last month, the net number of homes on the market in San Francisco has since dropped 19 percent to 1,020 and listed inventory levels are now 44 percent lower than they were at the same time last year. That being said, inventory levels in San Francisco are... Read More »