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July 2019 San Francisco Market Report

High stock markets, low interest rates, surging luxury home sales, limited inventory, a spring full of unicorn IPOs, and San Francisco – once again -hits new highs in median home sales prices. July 2019 Update After 2 quarters of no or negative year-over-year home price appreciation, a confluence of positive economic factors sent San Francisco […]

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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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June 2019 San Francisco Market Report

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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May 2019 San Francisco Market Report

With April’s end, we now have 2 months of spring season data unaffected by the end of 2018, when financial markets plunged. As of early May 2019, stock markets have recovered to hit new highs, interest rates are far lower than last year’s peak, and our local, unicorn IPOs have begun to roll out after […]

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