CFAH

Articles Filed Under: Trends

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Pace of Existing Home Sales Drops, Inventory Inches Up

Pace of Existing Home Sales Drops, Inventory Inches Up

Having ticked up 6.7 percent in January, the seasonally adjusted pace of existing-home sales across the U.S. dropped 7.2 percent in February to an annual rate of 6.02 million sales and was down 2.4 percent on a year-over-year basis, according to the National Association of Realtors (NAR) and marking... Read More »

Purchase Activity for New Homes in the U.S. Ticks Down

Purchase Activity for New Homes in the U.S. Ticks Down

Despite February typically marking the start of the spring home buying season, mortgage application volume to purchase a new home in the U.S. actually ticked down 1 percent in the absolute and was down 3.9 percent on a year-over-year basis, according to the Mortgage Bankers Association.  And yes, that’s... Read More »

Benchmark Mortgage Rate Rockets Back Over 4 Percent

Benchmark Mortgage Rate Rockets Back Over 4 Percent

The average rate for a benchmark 30-year mortgage jumped 31 basis points (0.31 percentage points) over the past week to 4.16 percent, which is 35 percent (107 basis points) higher than at the same time last year, nearly 60 percent higher than in January of last year and the... Read More »

Mortgage Loan Application Volumes Slip, Rate Hikes Pending

Having ticked up last week from a two-year low, mortgage loan application volumes to either purchase or refinance a home in the U.S. have slipped a percent on both a seasonally adjusted and absolute basis, with purchase activity down 8 percent on a year-over-year basis and applications to refinance... Read More »

Pace of Home Sales in San Francisco Remains Down

As we outlined yesterday, the number of homes on the market in San Francisco has ticked up to a 10-year seasonal high, driven by a slowdown in the pace of sales and new contracts having been signed, which shouldn’t have caught any plugged-in readers by surprise. In fact, the... Read More »

Number of Homes for Sale in S.F. Hits a 10-Year Seasonal High

Number of Homes for Sale in S.F. Hits a 10-Year Seasonal High

Having ticked up another 5 percent over the past week driven by a slowdown in the pace of sales, which is down year-over-year, the net number of homes on the market in San Francisco (930) just matched last year’s mid-March levels, equaling a 10-year seasonal high which should soon... Read More »

Bay Area Employment Slipped in January

Bay Area Employment Slipped in January

Having increased by an upwardly revised 3,400 in December, the net number of people living in San Francisco with a paycheck ticked up by 1,100 in January to (a downwardly revised) 544,800.  But with an upwardly revised 564,200 people in the labor force, the local unemployment rate inched up... Read More »

Benchmark Mortgage Rate Ticks Back Up, Hike Probability Too

Benchmark Mortgage Rate Ticks Back Up, Hike Probability Too

Having dipped 16 basis points (0.16 percentage points) with a flight to safety in the markets following Russia’s invasion of Ukraine, the average rate for a benchmark 30-year mortgage ticked back up 9 basis points over the past week to 3.85 percent, which is 80 basis points higher than... Read More »

Mortgage Loan Application Volume Ticks Up (But Down)

While mortgage loan application volumes to either purchase or refinance a home in the U.S. ticked up 8.5 percent last week, having dropped to a two-year low in February, prior to the start of the spring buying/selling season, purchase activity was down 7 percent on a year-over-year basis and... Read More »

Listed Inventory Levels in S.F. Tick Up, Nearing a Decade High

Having climbed 8 percent last week, the number of homes on the market in San Francisco, net of all new sales, both pending or closed, has since ticked up another 3 percent to 880, representing a 90 percent increase in inventory levels since the start of the year. While... Read More »