List Price Reductions on the Rise in San Francisco
The percentage of homes on the market in San Francisco which have undergone at least one official price reduction ticked up four (4) percentage points over the past week to…
Mortgage Rates Rocket to 3-Year Highs, Primed to Climb
The average rate for a benchmark 30-year mortgage jumped another 26 basis points (0.26 percentage points) over the past week to 4.42 percent, which is nearly 40 percent (125 basis…
Pace of New Home Sales in the U.S. Drops, Inventory Up
Having dropped a downwardly revised 8.4 percent in January, the seasonally adjusted pace of new single-family home sales in the U.S. ticked down another 2.0 percent in February to an…
Bay Area Unemployment Claims Near Pre-Pandemic Levels
While the number of new unemployment claims filed across the Bay Area inched up in January to 36,803, which was still 24 percent higher than in January of 2020, prior…
Mortgage Loan Application Volumes in the U.S. Drop
Mortgage loan application volumes to either purchase or refinance a home in the U.S. dropped 8 percent on both a seasonally adjusted and absolute basis last week, with purchase activity…
Probability of Eight More Rate Hikes Has Jumped
With the Federal Reserve having raised the target federal funds rate by 25 basis points (0.25 percentage points) last week, representing the first hike from a near zero rate in…
Officially 25 Percent “Over Asking!” in Bernal Heights, But…
As we outlined last month, the “epic” Bernal Heights view home at 149 Bradford Street, which was purchased for $2.25 million in April of 2018, having been newly expanded and…
Exceptional and Luxurious View Condo Reduced, Listed Anew
Purchased for $3.75 million in July of 2019, the 2,053-square-foot, three-bedroom unit #3501 in The Avery at 488 Folsom Street features “an extra wide open floor plan that creates a…
Pace of Existing Home Sales Drops, Inventory Inches Up
Having ticked up 6.7 percent in January, the seasonally adjusted pace of existing-home sales across the U.S. dropped 7.2 percent in February to an annual rate of 6.02 million sales…
Plans to Eliminate San Francisco’s Industrial Protection Zone
Created in 2001 to protect industrial businesses from being displaced by higher-paying residential, retail and office developments in San Francisco’s Eastern Neighborhoods, the City’s Industrial Protection Zone (IPZ) Special Use…