U.S. Home Prices Up, Sales Down in August

The national median home sales price was $253,500 in August, marking the 66th straight month of annual appreciation. Inventory declined year over year for the 27th straight month. Homes continue to sell fast across the country and in the Bay Area. Four major trends persisted for the national housing market in August: rising prices, declining inventory, slowing sales, and strong buyer demand....

Millennials’ Student Debt Is Larger Than Their Incomes

More than 80 percent of millennials surveyed say student loans are preventing them from buying a home. The average millennial owes $2,400 more on student loans than they earn per year. Debt is also affecting millennials’ career and relationship choices, as well as their ability to save for retirement. Lingering student loans are causing younger Americans to make important life sacrific...

California, Bay Area Inventory Continues to Shrink in August

The median sales price for a single-family home in the nine-county Bay Area was $856,200 in August, an annual gain of 10.2 percent. Eight of nine Bay Area counties posted home price gains from one year earlier. Inventory dipped both statewide and in all nine Bay Area counties from August 2016. The number of homes for sale declined statewide and in every Bay Area county from one year earlier...

August Was a Mixed Month for Job Creation in California

  Following incredible job growth in July, which was revised upward to 84,500 positions, the August data release from the California Employment Development Department was a mixed bag, showing a decline of 8,200 jobs. However, the overall state number carries some discrepancies with California’s combined metropolitan area numbers, which showed an increase of about 15,800 jobs in August....

Real Estate Roundup: Bay Area Workers Are America’s Happiest

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. SAN FRANCISCO, SAN JOSE EMPLOYEES ARE NATION’S MOST SATISFIED Bay Area workers earn the highest salaries in the nation and have the opportunity to work at some of the world’s most innovative companies, so it makes sense that employees here are more satisfied than they are anywhere else in Am...

U.S. Foreclosure Rate Falls to 10-Year Low

The U.S. foreclosure rate fell to 0.7 percent of properties with a mortgage as of June, with 4.5 percent of borrowers more than 30 days delinquent on payments. California’s foreclosure rate was 0.2 percent, with 2.8 percent of borrowers more than 30 days delinquent. Foreclosure rates in the Bay Area ranged from 0.2 percent in San Francisco, Santa Rosa, and Napa to 0.4 percent in San Jos...

Warriors’ Draymond Green Runs a Pacific Union Open House

What happens when a six-foot-seven-inch NBA All-Star goes undercover as a real estate professional? That’s the premise of this four-minute video clip, the latest component of realtor.com’s “My Home Court” collaboration with the NBA’s Golden State Warriors. In the clip, Warriors forward Draymond Green gets home sales tips from Pacific Union real estate professional...

Home Prices in Four Bay Area Counties Are Still Short of Previous Highs

Despite the healthy rate of appreciation recorded over the past several years, California’s median sales price in February was still more than 20 percent short of its 2007 peak. The median sales price for a single-family home in the nine-county Bay Area eclipsed its previous high in April of last year, when it climbed to $831,180. But not all local counties have seen home prices return to...

Real Estate Roundup: Many Bay Area Tech Workers Are Seeking Jobs Elsewhere

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. BAY AREA TECHIES: ARE THEY MOVING OUT? A recent survey found that about 40 percent of Bay Area residents are thinking about leaving the region over the next few years. Now comes more sobering news for the Bay Area’s tech economy: Nearly as many tech workers are looking for jobs in other part...