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Articles Recently Tagged: COVID-19

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Omicron’s Impact on the Reopening of San Francisco

Omicron’s Impact on the Reopening of San Francisco

While muddled by a typical holiday slowdown at the end of the year, the impact of the Omicron variant on return to office plans (as measured by office attendance, which dropped back under 20 percent) and tourism in San Francisco (as measured by hotel occupancy, which dropped back under... Read More »

Rents in San Francisco Tick Up, Inventory Follows

Rents in San Francisco Tick Up, Inventory Follows

Having ended last year 8 percent higher than the year before, the weighted average asking rent for an apartment in San Francisco has since ticked up 2.6 percent to $3,400, which is 10 percent higher than at the same time last year but still 17 percent ($700) lower than... Read More »

Over 500,000 Bay Area Jobs Have Been Recovered, But…

Over 500,000 Bay Area Jobs Have Been Recovered, But…

Having increased by 6,300 in November, the net number of people living in San Francisco with a paycheck ticked up by 2,600 in December to 549,400, dropping the local unemployment rate to 3.0 percent with 42,700 more employed residents in the city than there were at the end of... Read More »

Office Vacancy Rate in San Francisco Inches Down, But…

Office Vacancy Rate in San Francisco Inches Down, But…

Having hit a pandemic high of 20.5 percent in the third quarter of last year, the effective office vacancy rate in San Francisco inched down to 19.9 percent at the end of 2021, which represents 17.0 million square feet of vacant office space in the city, including 5.5 million... Read More »

S.F. Will Soon Average Over 1,500 New COVID Cases Per Day

S.F. Will Soon Average Over 1,500 New COVID Cases Per Day

Based on our analysis of the City and County of San Francisco’s case data, the 7-day average number of daily new Covid-19 cases detected in San Francisco ticked over 1,000 on December 29 and was nearing 1,100 on December 30, despite the average being dragged down by a dramatic... Read More »

COVID Rockets in San Francisco [UPDATED]

COVID Rockets in San Francisco [UPDATED]

Compounded by an increase in the detection of asymptomatic cases that might have previously gone undetected, with proactive testing for holiday travel, parties and other get-togethers having jumped, the number of new Covid-19 cases in San Francisco hit a record daily high of 794 on December 21, which equates... Read More »

Rents in S.F. Increased 8 Percent in 2021, Still Depressed

Rents in S.F. Increased 8 Percent in 2021, Still Depressed

The weighted average asking rent for an apartment in San Francisco effectively held at $3,325 in December, which is roughly 8 percent higher than at the beginning of the year but still 19 percent ($775) lower than prior to the pandemic and nearly 26 percent below its 2015-era peak,... Read More »

Mortgage Rates Slip, Slated to Rise

Mortgage Rates Slip, Slated to Rise

With the Omicron surge rattling the market, driving bond yields down, the average rate for a benchmark 30-year mortgage slipped 7 basis points (0.07 percentage points) over the past week to 3.05 percent, which is 39 basis points above its mark at the same time last year but still... Read More »

New Unemployment Claims Near Pre-Pandemic Levels, But…

New Unemployment Claims Near Pre-Pandemic Levels, But…

Having dropped to a pandemic-era low of 51,484 in October, the number of new unemployment claims filed across the Bay Area fell to 36,421 in November, which was within 40 percent of pre-pandemic levels and down from an average of nearly 200,000 new claims a month since March of... Read More »

Nearly 500K Bay Area Jobs Have Been Recovered, 157K to Go

Nearly 500K Bay Area Jobs Have Been Recovered, 157K to Go

Having increased by a downwardly revised 4,500 in October, the net number of people living in San Francisco with a paycheck increased by 6,300 in November to 546,800, dropping the unemployment rate to 3.3 percent with 37,800 more employed residents in the city than there were at the same... Read More »