Benchmark Mortgage Rate Drops. Yes, Drops
Measured prior to yesterday’s announcement of another 75 basis point hike to the federal funds rate, the average rate for a benchmark 30-year mortgage had dropped 24 basis points (0.24…
The Fed Abides, Hikes Rates Another 75 Bips
As projected, the Federal Reserve has just announced another rate hike of 75 basis points or three-quarters of a percent for federal funds, its second 75 basis point hike in…
Pace of New Home Sales Drops, Median Sale Price Too
Having ticked up a downwardly revised 6.3 percent in May, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.3 percent in June to an annualized…
Pending Home Sales in San Francisco Down Over 30 Percent
As we outlined earlier this week, the recent decline in listed inventory levels in San Francisco is being driven by a slowdown in new listing activity versus an increase in…
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Index for Bay Area House Values Inches Up, YOY Gains Drop
Having ticked up 2.2 percent in April, 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…
Number of Homes for Sale in S.F. Peaks, Reductions Rise
Driven by a slowdown in new listing activity rather than an uptick in sales, the net number of homes on the market in San Francisco (i.e., inventory) dropped 9 percent…
Bay Area Employment Slipped Last Month, the Labor Force Too
Having inched up by an upwardly revised 1,800 in May, the net number of people living in San Francisco with a paycheck slipped by 3,000 in June to 553,800. And…
Construction of Prominent Hub District Tower Has Commenced
With the prominent Hub District site having been completely cleared, which is a departure from what was originally planned, construction on the 47-story tower to rise up to 540 feet…
Pace of Existing Home Sales in the U.S. Drops, YOY Decline Grows
Having ticked down 3.4 percent in May, the seasonally adjusted pace of existing-home sales across the U.S. dropped another 5.4 percent in June to an annual rate of 5.12 million…
High-End Condo Finally Trades for 30.8% Below Its 2018 Price
As we outlined last month: While not recorded on the MLS, the three-bedroom, three-bath unit #60A at 181 Fremont Street appears to have been purchased for $5,772,672 in May of…