News — Headlines

Pacific Union Wishes You a Happy Memorial Day 2018

Happy Memorial Day from Pacific Union! We salute and thank all those who sacrificed their lives for America, as well everyone who currently serves or has served in our country’s military. We hope your long weekend is a safe and enjoyable one. We will return tomorrow with the latest news and exclusive analyses of California real estate markets, so please check back! (Photo: iStock/terrywen412)

Real Estate Professionals Unanimously Agree on the Importance of Curb Appeal

Ninety-nine percent of real estate professionals say that a home’s curb appeal is key to attracting a buyer. Lawn care is the outdoor home improvement that has the biggest impact on buyers and is estimated to recoup 267 percent of its cost at the time of sale. Installing a swimming pool is the most expensive outdoor home improvement and also offers the lowest return on...

Bay Area Cities Rank as Best in the World for Future Momentum

Half of the world’s top 30 cities that are best prepared for the future are in North America. San Francisco and Silicon Valley rank a respective No. 1 and No. 2 on the list of “future-proofed” metropolitan areas. Los Angeles and San Diego also rank among the world’s top 10 future-proofed cities. The Bay Area’s real estate market and high-performance economy are currently running at...

San Francisco: America’s Top Job Market for Movers

About one-third of applications on job-search engine Glassdoor are from workers seeking to relocate. San Francisco is the most popular U.S. job market for employees who are willing to move. San Jose and Los Angeles rank a respective No. 3 and No. 4 for the highest number of job applications from elsewhere in the country. Despite the Bay Area’s exceptionally high housing costs, the region...

Video: California April Jobs Report

Check out this short animation that offers highlights of April’s California jobs report. To read the full analysis by Pacific Union Chief Economist Selma Hepp, which includes detailed information on Bay Area and Los Angeles County job markets, click here.  

California Delivers Record-Setting Unemployment in April

California’s unemployment rate fell to a new record low of 4.2 percent in April, with 39,300 jobs added during the month. California has now gained a total of 2,908,100 jobs since the economic expansion began in February 2010. Over the last year, there were 356,800 jobs added, a 2.1 percent increase. March’s previously reported decline was revised up 5,400 new jobs. In the first four...

Real Estate Roundup: San Francisco Is No. 3 in the World for Billionaires

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. THE BAY AREA MINTED 14 NEW BILLIONAIRES IN 2017 Yet more impressive news about the Bay Area’s high-octane economy: The region has more billionaires than all but two other places on the planet. Citing a Wealth-X study, SFGate reports that the number of billionaires across the world climbed to 2,754...

Bay Area Median Sales Price Tops $1 Million for the First Time Ever in April

California’s median single-family home sales price was $584,460 in April, about $10,000 short of its all-time high. The nine-county Bay Area’s home price exceeded $1 million and was up by 14.1 percent year over year. San Mateo was California’s most expensive real estate market in April, with a median sales price of $1.77 million. Golden State home prices could eclipse their previous peaks within the...

Oakland Ranks as One of America’s Top Five Booming Housing Markets

More than one-quarter of the country’s 25 fastest-rising real estate markets are in the Bay Area. Oakland ranks No. 5 on the list, boosted by rising home values and incomes. According to MLS data, the median sales price for a single-family home in Oakland reached $825,000 in April, the highest in two years. During the current housing cycle, Oakland has become a hot spot for...

Wage Growth Helps to Slightly Boost California, Bay Area Housing Affordability

Thirty-one percent of California households could afford the median-priced $538,460 single-family home in the first quarter, up from 29 percent in the fourth quarter. Affordability improved in six of nine Bay Area counties from the fourth quarter and now ranges from 15 percent in San Francisco and San Mateo counties to 42 percent in Solano County. Homebuyers in San Francisco and San Mateo counties must...