Market News
June 12, 2018
The Bay Area’s Median Home Price Climbs to $1 Million in May
The Bay Area’s median home price reached $1 million in May, a 17 percent year-over-year increase, with Silicon Valley continuing to post 30 percent appreciation. Homes sales activity matched last May, with San Francisco showing the strongest gain, up by 7 percent year over year. Napa County sales were slower than last year. Higher-priced sales rose up by about 30 percent.
June 5, 2018
Where Will Mortgage Rates Land?
Executive Summary: Thirty-year, fixed-rate mortgages in 2018 have been rising at the fastest pace in 50 years and reached 4.66 percent for the week ended May 24 before dropping to 4.56 percent this week. However, mortgage rates did not increase proportionally to the federal funds rate determined by the Federal Reserve because they are determined by longer-term economic factors beyond solely the influence of central banks and monetary policy. Read full article: https://blog.pacificunion.com/where-will-mortgage-rates-land/
May 29, 2018
Real Estate Roundup: U.S. Homes Are Selling Faster Than Ever This Spring
PERSISTENT INVENTORY CONSTRAINTS SUPPRESS APRIL U.S. HOME SALES Both homebuyer demand and tight inventory conditions continued in April, holding back sales and causing properties to fly off the market.
May 22, 2018
California Delivers Record Setting Unemployment in April
EXECUTIVE SUMMARY • California’s overall unemployment rate fell to a new record low in April of 4.2 percent • Since January, nearly 100,000 new jobs were created in the Golden State, led by 10,000 new jobs in construction • The Bay Area’s unemployment continued to fall in April with San Francisco and San Mateo counties delivering the lowest rates in the region of 2.1 percent • Los Angeles’ unemployment fell to 4.4 percent, which is another record setting low for the region • Since 2010, nearly 3 million new jobs have been created in California Read the full article: https://blog.pacificunion.com/california-delivers-record-setting-unemployment-in-april/
May 4, 2018
U.S. Unemployment Rate Falls to the Lowest Level in Nearly 18 Years in April
Today’s national employment report from the U.S. Bureau of Labor Statistics reported an increase of 164,000 jobs in April, which continues…
May 4, 2018
Which Small Bay Area Cities Rank Among the Nation’s Most Livable in 2018?
For the fifth consecutive year, Palo Alto ranks among the 10 most livable small to medium-sized American cities. Berkeley counts among the top 20…
April 6, 2018
U.S. Employment Growth Slows in March, as Weather Plays a Big Factor
Today’s national employment report from the U.S. Bureau of Labor Statistics did not live up to expectations, with the country adding 103,000…
March 27, 2018
California’s Unemployment Rate Again Falls to Record Low in February
California added 14,000 jobs in February, and the unemployment rate dropped to 4.3 percent — the lowest level recorded since 1976, according to…
March 16, 2018
Bay Area Luxury Home Sales Doubled in February
Executive Summary: Sales of Bay Area homes priced above $3 million doubled in February, with most local regions posting large gains. Sales of homes…