CFAH

Pending Home Sales Continue to Drop, Nationally and Locally

Pending Home Sales Continue to Drop, Nationally and Locally

Having “dwindled” 4.1 percent in February, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, ticked down another 1.2 percent last month to 103.7, which was 8.2 percent lower than at the same time last year... Read More »

Mortgage Applications Drop as Homebuyers Pull Back Even More

Mortgage loan application volumes in the U.S. dropped another 8.3 percent over the past week on a seasonally adjusted basis and 7 percent in the absolute, with a 9 percent drop in applications to refinance and a 7 percent drop in purchase activity, according to data from the Mortgage... Read More »

Pace of New Home Sales Drops, Inventory Climbs

Pace of New Home Sales Drops, Inventory Climbs

Having ticked down an upwardly revised 1.2 percent in February, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.6 percent in March to an annualized rate of 763,000 sales. As such, the pace of sales last month was 12.6 percent lower than at the... Read More »

Index for Bay Area House Values Up Nearly 23 Percent YOY

Index for Bay Area House Values Up Nearly 23 Percent YOY

Having increased 2.4 percent in January, 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 and Peninsula – ticked up another 3.7 percent in February for a year-over-year gain of 22.9 percent, three points above... Read More »

Inventory Levels Tick Back Up in San Francisco

Having ticked down last week, the net number of homes on the market in San Francisco (i.e., inventory) has since ticked back up to an 11-year seasonal high, driven by a rebound in new listing activity as well as a continued slowdown in sales. As such, there are now... Read More »

Benchmark Mortgage Rate Just Hit a 12-Year High

Benchmark Mortgage Rate Just Hit a 12-Year High

Having hit 5 percent for the first time in over a decade last week, the average rate for a benchmark 30-year mortgage has since ticked up another 11 basis points (0.11 percentage points) to 5.11 percent, which is 214 basis points and over 70 percent higher than at the... Read More »

Pace of Existing Home Sales Drops Again, Inventory Ticking Up

Having dropped 7.2 percent in February, the seasonally adjusted pace of existing-home sales across the U.S. ticked down another 2.7 percent in March to an annual rate of 5.77 million sales and was down 4.5 percent on a year-over-year basis, according to the National Association of Realtors (NAR) and... Read More »

Visualizing All the Vacant Office Space in San Francisco

Visualizing All the Vacant Office Space in San Francisco

As we outlined last week, the amount of vacant office space in San Francisco has ticked up to a pandemic high of 18.7 million square feet versus under 5 million square feet prior to the pandemic. For context, the 1,070-foot-tall Salesforce/Transbay tower at First and Mission, which is the... Read More »

Mortgage Activity Drops with a Pullback in Demand

Mortgage loan application volumes in the U.S. dropped another 5 percent over the past week on a seasonally adjusted basis and 4 percent in the absolute, with an 8 percent drop in applications to refinance and a 3 percent drop in purchase activity, according to data from the Mortgage... Read More »

Rebuilt Crown Jewel of Noe Valley Reduced, Relisted Anew

Rebuilt Crown Jewel of Noe Valley Reduced, Relisted Anew

Speaking of price reductions, the modern 6,000-square-foot home at 625 Duncan Street, “one of the most magnificent crown jewels of Noe Valley,” has just been relisted anew for $7.995 million, down from $9.95 million in December and $12 million in November of last year but with an official “1”... Read More »