Video: California’s January Jobs Report

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

California Added Jobs at The Fastest Rate in 2017

Job reports for both California and the U.S. show strong growth so far in 2018. According to data from the U.S. Bureau of Labor Statistics, America added 313,000 jobs in February, the strongest monthly gain since July 2016. Over the last three months, there were an average of 242,000 jobs added per month, and the annual total reached 2.281 million in February. Some experts warn...

Tax Changes to Impact Coastal California Homeowners the Most, Another Study Says

Nine of the 10 American housing markets that will lose the most in deductions over the first year of the tax-reform package are located on the West and East Coasts. Homeowners in the San Jose and San Francisco metropolitan areas stand to lose the most in deductions over the course of a 30-year mortgage — more than $100,000 in total. Owners in five affluent Silicon...

Bay Area, California Workers Must Earn the Nation’s Biggest Bucks to Afford a Home

Buyers in San Francisco are the only ones in the country that need six-figure annual household incomes to afford the median-valued home. San Jose, Los Angeles, and San Diego also rank in the top five in the U.S. for highest incomes necessary to pay the mortgage. Renters in San Francisco require even larger annual incomes than homebuyers. Bay Area employees — particularly tech workers —...

Los Angeles Business Journal Ranks Pacific Union No. 1 Independent Brokerage

The Los Angeles Business Journal just published its 2018 list of the top residential real estate brokerages in Los Angeles County, and in a top 10 heavy with national corporations, Pacific Union International was not only the No. 1 independent brokerage but No. 2 overall in the county by sales volume. As the publication reports, Pacific Union’s 900 Los Angeles County-based real estate professionals closed...

Real Estate Roundup: San Francisco Again Tops List of the Hottest U.S. Housing Markets in February

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. HOMEBUYER DEMAND CONTINUES UNABATED ACROSS THE COUNTRY AND BAY AREA A insufficient supply of homes for sale continues to propel U.S. prices and cause properties to sell increasingly faster, with three Bay Area cities counting among the hottest U.S. real estate markets in February. That’s according to realtor.com’s latest monthly...

Silicon Valley Residents Are Still the Nation’s Best at Money Management in 2018

For the third consecutive year, residents of Cupertino rank No. 1 in the U.S. for money-management skills. Five other Silicon Valley communities rank in the top 10 in the country for financial savvy: Los Altos, Saratoga, Palo Alto, Sunnyvale, and Mountain View. Among cities with more than 300,000 residents, San Franciscans have the nation’s best money-management skills. Home prices in Silicon Valley soared in the...

San Francisco Led the Nation for Home Building Gains in 2017

Building-permit activity increased by almost 95 percent in San Francisco last year when compared with the historic average over the previous 36 years, ranking the city No. 1 the nation for new-construction growth. San Jose ranked No. 8 in the U.S. for home building gains, issuing a total of about 8,500 permits in 2017. Oakland posted a 16.9 percent gain in issued permits, about 40...

San Francisco Is the Top U.S. Housing Market for Millennials

A new analysis ranks San Francisco as the No. 1 U.S. destination for millennials, with other technology hubs also popular. Gen Xers are buying homes away from coastal areas, with Texas a particular hot spot. Six of the top 10 housing markets for baby boomers are in Florida. Despite the San Francisco metropolitan area’s sky-high housing prices, millennials are flocking to the region to take...