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Market News

What We Know We Don’t Know.

Updated Market & Census Statistics, Home Prices & Appreciation Rates, Luxury Home Sales, Price Reductions, Employment & Interest Rates. It will be another month before hard data on the autumn selling season begins to become available. In the meantime, below is a review of market trends and statistics through the third quarter. Note that September […]

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What happened in the Spring and why did it happen….again?

Sales & Values by District and Price Segment, Special Circumstance Sales, Market Seasonality, the Luxury Home Market & Foreign Buyers. The May Case-Shiller Home Price Index was released in late July for the 5-county SF metro area. This chart illustrates the difference in appreciation rates between the Bay Area (higher price markets) and the entire […]

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How did the spur of IPOs impact Bay Area housing markets?

Executive Summary: Higher-end sales (above $3 million) surged in the second quarter to last year’s historical peaks. Home prices remained flat in the second quarter, except in San Francisco and San Mateo. For-sale inventory growth slowed considerably, especially in San Francisco. Inventory remains at 50 percent of the last housing boom. Tax reform is likely …

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Santa Clara Q2 Real Estate Market – Compass

Santa Clara County saw a rebound in buyer demand, luxury home sales and in median home sales prices in Q2, assisted by stock markets hitting new peaks and interest rates falling to multi-year lows. However, its market remains distinctly cooler than the white-hot period running from late 2017 through mid-2018 – when it was perhaps …

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June U.S. Jobs Report: Continued strength lowers expectations of Fed cut in July

Friday’s national employment report from the U.S. Bureau of Labor Statistics showed that the U.S. economy added 224,000 in June, exceeding the expectations of market observers who were counting on lower gains amid some slower May economic reports. The current economic expansion also entered its 121st month in July, marking the longest expansion in modern …

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California on track for longest job expansion in recorded history

California added 19,400 jobs in May bringing the unemployment rate down to 4.2 percent, according to the latest report from the state Employment Development Department. The lowest unemployment rate, 4.1 percent, was seen in second half of 2018. Current job growth is at a 111-month expansion — the second-longest since 113-month expansion of 1960s. With …

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Plenty of Bay Area buyers, but why are they hesitant?

Executive Summary: While April’s momentum is slightly slower in May, May sales are still only 2 percent below last year’s highs after double-digit declines earlier in the year. Home sales momentum remains solid in East Bay. Napa sales finally jumped 6 percent after a 6-month losing streak, averaging 20 percent annual declines. Affordable sales picked …

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Don’t go to sleep now

High-demand/low-inventory spring market brings median home sales prices bouncing back to 2018 peaks. San Francisco luxury home sales hit new monthly high. Median Home Sales Prices We consider 3-month rolling median sales prices to be more reliable than single month figures, which are much more prone to less meaningful fluctuations. Both houses and condos are basically […]

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Jobs Report: California sees largest monthly gain in two years

According to the latest report from the state Employment Development Department, California added 46,000 jobs in April – the largest monthly gain since March 2017. While monthly job additions have varied a lot since the beginning of the year, California led all states in the monthly increase. The state has added 271,600 jobs over the …

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Bay Area housing market shifting in anticipation of IPO demand

Executive Summary: IPO expectations are already showing up in home sales activity, particularly in San Francisco and San Mateo Sales of homes in San Francisco, San Mateo and Alameda have solidly exceeded last year – up 7 percent, 4 percent and 2 percent respectively year-over-year in April Santa Clara, Wine Country and Contra Costa remain …

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Neighborhood Spotlight: Jack London Square

It’s a historic neighborhood with a fascinating past and unparalleled waterfront access—so why isn’t it more in-demand? The truth is, Jack London Square had gotten little bit stale over the last few decades, but that’s changed in a big way. An influx of new restaurants, bars, and housing in recent years has helped reinvigorate the …

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March U.S. Jobs Report: Are we in a Goldilocks Economy?

A Goldilocks Economy is an economy that is neither too hot or cold, in other words, it sustains moderate economic growth and has low inflation, which allows a market-friendly monetary policy. Today’s national employment report from the U.S. Bureau of Labor Statistics once again outpaced expectations by posting a 263,000 increase in jobs added in …

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Do you believe in unicorns?

A substantial portion of Q1 statistics reflect new listings and accepted offers occurring during the mid-winter market doldrums (Thanksgiving to mid-January). In November and December 2018, the stock market plunged drastically from its all-time high in September, and interest rates hit their highest point in years: these factors negatively affected buyer demand. Then both turned […]

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The whole enchilada/kit and caboodle/shebang. Right here, right now. Enjoy!

There were almost too many local, national and international political, economic, social and ecological factors impacting the 2018 market to count. In the first half of the year, market conditions were about as hot as they’ve ever been, and there were staggering year-over-year appreciation rates. Come summer/early autumn, real estate and financial markets began to […]

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