Demand for Mortgages to Purchase Homes Continues to Shrink
Mortgage loan application volume in the U.S. dropped nearly 4 percent on a seasonally adjusted basis and 5 percent in the absolute over the past week, with a 4 percent…
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Indexes for Bay Area House and Condo Values Drop
Having inched up 0.9 percent in May, 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…
Number of Homes for Sale in San Francisco Poised to Jump
The net number of homes on the market in San Francisco (i.e., inventory) has effectively held at 1,140 over the past two weeks despite typically dropping over 10 percent at…
Approved Tower Pushed Back, Parking Lot Extension Sought
As we outlined back in September of 2020: Having been approved back in 2016 but yet to break ground, the entitlements for a skinny 495-foot-tall tower to rise at 524…
Benchmark Mortgage Rate Surges Back Over 5.5 Percent
Having dropped under 5 percent for the first time in four months three weeks ago, the average rate for a benchmark 30-year mortgage has since surged 56 basis points (0.56…
Purchase Activity at the High End of the Market Is Weakening
Mortgage loan application volume in the U.S. dropped another 3.0 percent over the past week from what was already a 22-year low, with a 2 percent drop in purchase mortgage…
Pace of New Home Sales in the U.S. Has Tanked
Having dropped a downwardly revised 7.3 percent in June, the seasonally adjusted pace of new single-family home sales in the U.S. fell another 12.6 percent in July to an annualized…
Decline in U.S. Home Sales Is Accelerating, Median Price Drops
Having dropped 5.4 percent in June, the seasonally adjusted pace of existing-home sales across the U.S. dropped another 5.9 percent in July to an annual rate of 4.81 million sales,…
Purchase Activity for New Homes in the U.S. Continues to Drop
Despite the fact that the number of new homes on the market across the U.S. is over 30 percent higher than at the same time last year, with the most…
Another High-End Redevelopment and DUM Problem at Hand
Purchased as a two-unit building with a “bonus room” on the ground floor for $2.7 million in November of 2017, permits to remodel and expand the Lake District property at…