CFAH

Average 30-Year Mortgage Rate Hits 6.29 Percent, Still Not “High”

Average 30-Year Mortgage Rate Hits 6.29 Percent, Still Not “High”

Measured prior to yesterday’s announcement of another 75 basis point hike by the Fed, the average rate for a benchmark 30-year mortgage had already climbed another 27 basis points (0.27 percentage points) over the past week to 6.29 percent. At 6.29 percent, the average 30-year rate is now 118... Read More »

Existing Home Sales Down 20 Percent, Median Price Drops

Existing Home Sales Down 20 Percent, Median Price Drops

Having dropped 5.9 percent in July, the seasonally adjusted pace of existing-home sales across the U.S. slipped 0.4 percent in August to an annual rate of 4.80 million sales, which was 19.9 percent lower than at the same time last year; the thirteenth straight month with a year-over-year decline;... Read More »

Purchase Mortgage Application Volume Now Down 30 Percent

While mortgage loan application volume to purchase a home in the U.S. ticked up one (1) percent on a seasonally adjusted basis over the past week, it continued to tick down on a year-over-year basis and was 30 percent lower than at the same time last year, according to... Read More »

Number of Homes for Sale in San Francisco Has Jumped

Number of Homes for Sale in San Francisco Has Jumped

Driven by a pronounced slowdown in the pace of sales, the net number of homes on the market in San Francisco (i.e., inventory) has jumped by 25 percent over the past two weeks to 1,410, which shouldn’t catch any plugged-in readers by surprise. In fact, there are now 20... Read More »

Another Swift $10 Million Price Cut in Pac Heights

Another Swift $10 Million Price Cut in Pac Heights

Quietly acquired from Mark and Alison Pincus for $16 million in November of 2015, Troon Pacific subsequently engaged Snøhetta (yes, that Snøhetta) to draft plans to transform the Albert Farr-designed home at 2950 Pacific Avenue into a modern 18,000-square-foot mansion with a coveted “2895 Broadway” address, as we first... Read More »

Pending Home Sales in S.F. Down 40 Percent to a 5-Year Low

Despite an ongoing surge in the net number of houses and condos listed for sale across San Francisco (i.e., inventory), the number of homes in contract to be sold is now down 40 percent on a year-over-year basis and 40 percent lower than in mid-September of 2020 as well.... Read More »

Rare and Exquisite Pac Heights Home Drops 10 Percent

Rare and Exquisite Pac Heights Home Drops 10 Percent

The “rare and exquisite” Pacific Heights at 1809 Lyon Street, an “architecturally distinctive” three-bedroom home with nearly 20-foot-high ceilings in the living/dining room, a European-style side courtyard, and a side-by-side garage for two (plus) cars, which is steps from Sacramento Street’s boutique shops and restaurants, sold for $4.01 million... Read More »

Bay Area Employment Inches Up, Slips in San Francisco

Bay Area Employment Inches Up, Slips in San Francisco

Having jumped in July, the net number of people living in San Francisco with a paycheck increased slipped by 800 in August to 563,900. As such, while there are now 40,500 more employed residents in the city than there were at the same time last year and 85,200 more... Read More »

Mount Olympus on the Market

Mount Olympus on the Market

The assembled site and plans for a proposed 10-unit development to rise on the northwest corner of 17th and Roosevelt, below the summit of San Francisco’s Mount Olympus on the southern border of Ashbury Heights, are now on the market with a $7.495 million price tag. In the works... Read More »

Another Upgraded Penthouse Just Listed at a Loss

Another Upgraded Penthouse Just Listed at a Loss

We’ve been fans of penthouse unit #613 atop the historic Embarcadero Lofts building at 300 Beale Street since we first featured the condo back in 2008. Having last traded hands for $1.92 million in September of 2017, “over $350K” has since been spent to further improve the upscale three-bedroom,... Read More »