Earthquake Insurance in California: The Basics

A cluster of small earthquakes that rattled the Bay Area earlier this week helped remind us that we live on unstable ground. And yet, it’s a curious fact that very few California homeowners have earthquake insurance — barely 10 percent, according to the state Department of Insurance, and only 5 percent of renters. It’s anyone’s guess whether these low numbers reflect stubborn indifference or a...

Silicon Valley Leads the U.S. for Monthly and Annual Home Price Growth

Home prices in the San Jose and San Francisco metropolitan areas reached new highs in October, a respective $1,055,000 and $859,000. Prices in San Jose and San Francisco are up more than 100 percent from the trough, making them the nation’s most recovered. California and the Bay Area posted solid job gains last month, which will continue to drive demand for homes in the state...

Eight Housing Market Predictions for 2018

Below, Pacific Union offers our perspective on some key U.S. economic and housing market trends that we believe will play out in the coming year. For a longer-term forecast for Bay Area housing markets over the next three years, read our recap of Pacific Union’s Real Estate and Economic Forecast to 2020, which was held in mid-November in San Francisco. Mortgage interest rates will keep...

Real Estate Roundup: California Dominates 2017 List of Top-Performing Housing Markets

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. BAY AREA CITIES RANK AS THE YEAR’S THREE HOTTEST REAL ESTATE MARKETS Bay Area cities have topped the monthly rankings of the nation’s most in-demand places to buy real estate every month of this year, so it comes as little surprise that these same communities have been named as the...

Happy Holidays 2017 From Pacific Union

All of us at Pacific Union would like to wish you the happiest of holidays. Whether you’re traveling or staying put here in the Bay Area, we hope that your holiday season is full of joy and good cheer surrounded by loved ones and friends. We’ll return tomorrow to close out 2017 with more news, analyses, and exclusive content from the always exciting world of...

U.S., Bay Area Real Estate Markets Remain Scorching in November

Nationwide, home sales reached their highest level in nearly 11 years in November. The U.S. median home sales price rose to $248,000, up 5.8 percent year over year for the 69th straight month of annual gains. The San Jose, Vallejo, and San Francisco real estate markets continued to rank as the three hottest in the country. San Jose ranked as the hottest U.S. real estate...

Pacific Union's California Regional Real Estate Forecasts to 2020

On Nov. 15, Pacific Union held its fourth annual Bay Area Real Estate and Economic Forecast in partnership with John Burns Real Estate Consulting at the SFJAZZ Center in San Francisco. Two weeks later, we presented our first-ever forecast for Los Angeles at the Skirball Cultural Center. The downloadable whitepapers below summarize our overall and California metropolitan statistical area (MSA) outlooks for the real estate...

Both Younger and Older Americans Prefer Walkable Neighborhoods

About 60 percent of both millennials and Americans aged 73 and older prefer living in communities in which they can walk to amenities. More than half of those surveyed believe that living in a walkable neighborhood is key to their satisfaction. Regardless of age bracket, one-third of Americans believe that living near public transportation is important. More than half of millennials and older adults prefer...

Bay Area Housing Inventory Further Tightens in November

The median sales price for a single-family home in the nine-county Bay Area increased by 12.5 percent year over year in November to $910,350. Home prices rose from November of last year in all nine Bay Area counties, with six seeing double-digit percentage point appreciation. Seven Bay Area counties have the state’s most severe inventory shortages, with less than two months of supply. Stubbornly low...