California Maintains Record-Low Unemployment Rate in March

California’s unemployment rate remained at a record-low 4.3 percent in March, in a series of numbers from the state Employment Development Department dating back to the beginning of 1976. Seasonally adjusted figures, however, show a decline of 7,200 jobs from the previous month. Unadjusted numbers show an increase of 42,200 jobs from February. March’s decline could be due to some volatility in the seasonal adjustment...

Real Estate Roundup: California Homebuyers Face the Nation’s Longest Down-Payment Savings Time

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. IT TAKES A DECADE TO SAVE FOR A DOWN PAYMENT IN THE BAY AREA AND LOS ANGELES Although workers in the San Francisco area earn some of the highest salaries in the U.S., the region’s high-dollar housing market dictates that amassing a down payment takes nearly a decade. An analysis...

Pacific Union Professionals Give Back With Home for a Home Program

From left to right: Chris King, director of Home For A Home; Scott Kalmbach, Pacific Union; Jennifer Allert, Surterre Properties; Nick Cooper, Pacific Union; Sarah Wagner Rayburn, Pacific Union; Ryan Richard, Compass Pacific Union would like to applaud the efforts of Nick Cooper and many of our other Bay Area and Los Angeles real estate professionals for their work helping to build homes where people...

California Needs More New Homes Than Any Other U.S. State

Between 2000 and 2015, the U.S. built 7.3 million fewer homes than was necessary to meet buyer demand, according to a new study. Over that time period, California was responsible for 45 percent of the nation’s undersupply, or 3.4 million units. The study advocates a development approach that places more new housing near public transportation, which could eventually reduce California’s vehicular traffic by nearly 30...

Bay Area Posts Double-Digit Percent Home Price Gains for the Ninth Straight Month

The nine-county Bay Area’s median single-family home price ended March at $980,000, a year-over-year gain of 18.1 percent. San Mateo, Santa Clara, and Alameda counties set new home price peaks last month. Inventory declined on an annual basis in eight of nine Bay Area counties. Bay Area home prices have been growing substantially on an annual basis since last summer, with March appreciation the highest...

Pacific Union Quarterly Report: Q1 2018

The first-quarter median sales price increased year over year in all Northern California regions in which Pacific Union operates except Sonoma Valley, where prices relaxed slightly. Inventory mostly trended downward from the first quarter of 2017, though supply conditions in our Mid-Peninsula subregion were essentially flat. Below, Pacific Union Chief Economist Selma Hepp offers a brief synopsis of first-quarter real estate activity in each of...

Video: March Bay Area Home Sales

Check out this short animation that offers highlights of March home sales activity in the Bay Area. To read the full analysis by Pacific Union Chief Economist Selma Hepp, click here.

Video: Pacific Union Market Pulse Q1 2018 – Lake Tahoe Condominiums

This short video offers a high-level overview of condominium sales activity in the Lake Tahoe/Truckee in the first quarter of 2018.   

Video: Pacific Union Market Pulse Q1 2018 – Lake Tahoe Single-Family Homes

This short video offers a high-level overview of single-family home sales activity in the Lake Tahoe/Truckee region in the first quarter of 2018.