Make that Nine and a Near Decade High
With the probability of the Federal Reserve raising interest rates by another two (2) full percentage points by the end of the year having jumped last week, the probability of…
Number of Homes on the Market in San Francisco Holds
With the current pace of home sales in San Francisco still down over 10 percent on a year-over-year basis, the net number of homes on the market (930) has effectively…
Bay Area Employment Back to 96 Percent of Pre-Pandemic Count
Having been downwardly revised, the net number of people living in San Francisco with a paycheck actually slipped by a thousand in January but then rebounded by 8,500 in February…
Pending Home Sales Drop, “Fast-Changing Conditions” Ahead
Having dropped 5.7 percent in January, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, “dwindled” another…
List Price Reductions on the Rise in San Francisco
The percentage of homes on the market in San Francisco which have undergone at least one official price reduction ticked up four (4) percentage points over the past week to…
Mortgage Rates Rocket to 3-Year Highs, Primed to Climb
The average rate for a benchmark 30-year mortgage jumped another 26 basis points (0.26 percentage points) over the past week to 4.42 percent, which is nearly 40 percent (125 basis…
Pace of New Home Sales in the U.S. Drops, Inventory Up
Having dropped a downwardly revised 8.4 percent in January, the seasonally adjusted pace of new single-family home sales in the U.S. ticked down another 2.0 percent in February to an…
Bay Area Unemployment Claims Near Pre-Pandemic Levels
While the number of new unemployment claims filed across the Bay Area inched up in January to 36,803, which was still 24 percent higher than in January of 2020, prior…
Mortgage Loan Application Volumes in the U.S. Drop
Mortgage loan application volumes to either purchase or refinance a home in the U.S. dropped 8 percent on both a seasonally adjusted and absolute basis last week, with purchase activity…
Probability of Eight More Rate Hikes Has Jumped
With the Federal Reserve having raised the target federal funds rate by 25 basis points (0.25 percentage points) last week, representing the first hike from a near zero rate in…