In my last post, I wrote that San Francisco’s residential market, fueled by the booming economics of local AI companies, was bucking the trend of most Bay Area counties by showing clear signs of strength while other counties stayed flat or faltered. Recent data suggests that this trend could be accelerating.
In Contract, Pendings, Sales Volume All Up
First, let’s recall that the music stopped in Spring, 2022, when the Fed started aggressively raising the Fed funds rate to cool economic activity and accelerating inflation after having kept interest rates near zero during the Covid Pandemic.
The resulting rise in mortgage rates correlates precisely with a massive slowdown in the Bay Area residential market as we entered 2022 (chart below).
With that background in mind, many of our statistics are now at or approaching levels they had reached before that 2022 slowdown. Continue reading “SF Real Estate Heats Up as the Weather Cools Down”
For the third consecutive year, San Francisco takes the prize as Zillow’s top US city for trick-or-treating. To help identify locations that could potentially dish out the most candy and present the least amount of safety and walking concerns, Zillow determines their rankings based on four categories of equal value: the Zillow Home Value Index, population density, Walk Score, and local crime data from Relocation Essentials.
