How You Can Help Those Affected by the California Wildfires

All of us at Pacific Union and Compass would like to extend our sincere condolences to everyone affected by the Camp Fire in Northern California and the Woolsey Fire in Southern California. As these powerful wildfires continue to burn throughout our state, we have received reports that at least 10 of our Pacific Union and Compass family members have lost their homes. Many have asked...

California Home Sales Plunged in September

Home sales declined by 17.2 percent in California from September 2017, while the Bay Area and Southern California saw activity decrease by a respective 18.9 percent and 17.7 percent. Slowing home sales reflect diminishing affordability and less buyer urgency rather than reduced demand. The Bay Area saw the slowest annual appreciation in 15 months in September, while Southern California’s price growth was the lowest in...

Real Estate Roundup: More Evidence That Generation Z Will Become Active Homebuyers

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. THE YOUNGEST GROUP OF AMERICANS ARE ALREADY SAVING MONEY FOR A HOME Several months after a survey found that more than 80 percent of Generation Z plan to purchase real estate in the next five years, another shows that they are backing up that talk by actively saving money for...

Silicon Valley Claims the Nation’s Top 5 Neighborhoods for Equity-Rich Homeowners

There were 14.5 million equity-rich U.S. homeowners in the third quarter, a new record high. As in previous quarters, the San Jose and San Francisco metropolitan areas had the most equity-rich homeowners. Nearly 90 percent of owners in three Sunnyvale ZIP codes are classified as equity-rich, the most in the country. The number of U.S. homeowners who are considered equity-rich reached a new high in...

Bay Area Households Are the Nation’s Best at Sticking to a Budget

San Jose residents ranks as America’s best for living within their means, thanks to having the country’s lowest debt not related to housing and smallest revolving credit usage. San Francisco places No. 2 for budget consciousness, with annual incomes that are more than $30,000 higher than the national median. Homeowners in all six of the California cities included in the analysis have mortgage-debt-to-income balances higher...

How Long Will a Home Purchase Impact Californians’ Credit Scores?

The average American can expect their credit score to decline by 15 points after buying a home, with the total recovery time taking about 10 months. San Jose and San Francisco homebuyers have exceptionally high credit scores but will need to wait roughly a year before their ratings return to normal. Making on-time mortgage payments will help boost new homebuyers’ credit ratings, as will the...

Bay Area Home Prices Are Growing at More Than Twice the National Rate

The median sales price for a U.S. existing single-family home was $266,900 in the most recently completed quarter, a year-over-year increase of 4.8 percent. The San Jose metropolitan area remains the nation’s most expensive real estate market, with the $1,300,000 median sales price up by 11.6 percent from the third quarter of 2017. San Francisco’s $989,000 median sales price increased by 9.9 percent on an...

Real Estate Roundup: U.S. Homebuyers Love Their Patios

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. MOST NEW AMERICAN HOMES COME WITH A PATIO Home shoppers who are eyeing a newly constructed property have a pretty good chance of scoring a place to relax outside, as builders are increasingly incorporating patios in their projects. Citing data from the U.S. Census Bureau’s Survey of Construction, the National...

California Housing Affordability Inches Up in the Third Quarter

A new report form the California Association of Realtors puts the number of households who can afford a single-family home in the state at 27 percent in the third quarter, a slight increase from the previous quarter. Affordability conditions in the nine-county Bay Area improved from the second quarter, rising to 21 percent, but were down on an annual basis. In Los Angeles County, 22...