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…
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…
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…
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…
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,…
Spring Inventory Levels Might Have Peaked in San Francisco
While one week doesn’t make for a trend, the net number of homes on the market in San Francisco (i.e., inventory) ticked down a few percent over the past week…
Office Vacancy Rate in San Francisco Hits a Pandemic High
Having inched down to just under 20 percent at the end of last year, the effective office vacancy rate in San Francisco ticked back up to a pandemic high of…
Bay Area Employment Within 3 Percent of Pre-Pandemic Count
Having increased by a (downwardly revised) 8,100 in February, the net number of people living in San Francisco with a paycheck increased by 6,800 in March to 557,600, representing 52,600…
Office Vacancy Rate in the East Bay Eases, First Drop Since 2019
Having ticked over 18 percent at the end of last year, the office vacancy rate in the East Bay, not including Walnut Creek or further east, inched down to 17.3…
Purchase Activity for New Homes Down Despite More Inventory
Mortgage loan application volume to purchase a new home in the U.S. ticked up 10 percent from February to March with typical seasonality in play. That being said, application volumes…