Pacific Union Again Moves Up the Rankings of the Largest U.S. Real Estate Brokerages in 2018

Pacific Union is excited to share the news that our firm has once again advanced on the list of the largest residential real estate brokerages in America, a testament to the hard work and expertise of our elite team of real estate professionals in the San Francisco Bay Area and Los Angeles County. The latest rankings from noted industry publications REAL Trends and RISMedia place...

California Dominates List of 2018’s Best Housing Markets for Sellers

Sixty-eight percent of the best U.S. places to sell a home are in California according to a new report from SmartAsset. Home values in Alameda County’s Hayward grew by 20.3 percent between 2012 and 2016, the most of any city included on a list. Homes in San Jose currently sell in less than a week, making it the fastest-paced U.S. market. An aerial view of...

Bay Area, California Homebuyers Lead the Nation for Down-Payment Size

Four of the five U.S. housing markets where buyers make the largest down payments are in California. Buyers in the San Jose and San Francisco metropolitan areas make average down payments of more than $200,000. Although saving for a down payment can be a daunting obstacle for younger homebuyers, they are still quite active, both nationwide and in the Bay Area. If you’re planning to...

Real Estate Roundup: Silicon Valley Is a Hot Spot for Generation Z Homebuyers

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. U.S. HOMEOWNERS 23 AND YOUNGER NUMBER ALMOST 100,000 Although millennials have represented the largest group of homebuyers for five consecutive years, they have been slower than previous generations to enter the housing market. But the demographic behind them — Generation Z — has already purchased homes in surprisingly large numbers....

Video: California February Jobs Report

Check out this short animation on California’s February jobs report. To read the full analysis by Pacific Union Chief Economist Selma Hepp, click here.  

California’s Unemployment Rate Again Falls to Record Low in February

California added 14,000 jobs in February, and the unemployment rate dropped to 4.3 percent — the lowest level recorded since 1976, according to numbers from the state Employment Development Department. Over the last year, the state created 383,600 jobs, a 2.3 percent annual increase. Industries that added the most jobs in February from the month before include professional and business services, up 8,300 jobs; construction,...

Risk of Bubble for California, Bay Area Housing Markets Is Minimal, Report Says

Analysts at Arch MI do not believe that home prices are overvalued, nor do they foresee a looming bubble. The chances of home prices declining in California over the next two years is 3 percent, making it a minimal-risk market. All 12 California metropolitan areas that the report tracks have minimal risk of price depreciation by the end of the decade. Although home prices should...

Millennial Homebuyer Activity Climbs to Record High

For the fifth straight year, millennials are the most active U.S. homebuyers, accounting for 36 percent of sales. More than half of millennials bought a home in a suburban community, and 85 percent opted for a single-family structure. Nearly half of millennials carry student loans, with a median debt of $27,000. Millennials remain the most active U.S. homebuyers, though tight inventory conditions, strong price growth,...

Five Bay Area Counties Surpass All-Time Home Price Highs in February

The median sales price for a single-family home in the nine-county Bay Area was $893,690 in February, an annual gain of nearly 14 percent. Home prices rose by double-digit percentage points in seven of nine Bay Area counties from February 2017. The median sales price surpassed its previous peak in San Francisco, San Mateo, Santa Clara, Marin, and Sonoma counties. The Bay Area posted double-digit...