No Reason to Fear a Housing Market Downturn, Another Report Says

Strong homebuyer demand and tight lending standards should prevent the U.S. housing market from another crash, National Association of Realtors Chief Economist Lawrence Yun says. Yun projects that home prices will grow by 5 percent by the end of 2018 and 3.5 percent in 2019. A Morgan Stanley housing market expert believes that limited affordability is the biggest problem facing the U.S. housing market. The...

Real Estate Roundup: Silicon Valley Claims America’s Two Most Expensive Housing Markets

A home in Atherton, California Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. ATHERTON AND LOS ALTOS TOP LIST OF THE NATION’S PRICIEST COMMUNITIES Yet another report highlights Silicon Valley‘s massive wealth, with two of the region’s housing markets ranking as the most expensive in the country. That’s according to a video produced by realtor.com, which call out...

More Than Six in 10 Millennials Lack a Prime Homebuying Credit Score

Sixty-one percent of millennials without mortgages have credit scores lower than 661. Millennials with mortgages have average credit scores of 716. While one survey puts the number of millennials who think homeownership is a good investment at more than 80 percent, another poll says that less than half of that generation express the same sentiment. Besides student debt, rising home prices, and higher mortgage rates,...

The Bay Area’s Fastest-Paced Housing Markets: Q2 2018

Many Bay Area housing markets remain heavily skewed in favor of sellers, as buyers contend with critically low inventory levels and plenty of competition. To be successful, buyers often must make quick decisions whether to move forward with an offer, but in some of the region’s hottest markets, they must make a move almost immediately. To find out where single-family homes sold the fastest in...

U.S. Home Prices Again Reach New Peak in the Second Quarter

The median sales price for a U.S. single-family home was $269,000 in the second quarter, an all-time high. The San Jose metropolitan area was America’s fastest-appreciating housing market, with the $1.41 million median sales price up by 18.7 percent from the second quarter of 2017. Though millennials should be helping to drive sales activity, less than half of them believe that homeownership is a good...

Bay Area Posts Double-Digit Percent Home Price Gains for the 13th Straight Month in July

The median sales price for a single-family home in California was $591,460 in July, down from June’s all-time high but up by nearly 8 percent year over year. The nine-county Bay Area ended July with the median sales price at $980,000, an annual increase of more than 10 percent. Diminishing affordability in job centers helped drive double-digit percent year-over-year increases in sales activity in Contra...

Video: California July Jobs Report

Check out this short animation, which offers highlights from July’s California jobs report. To read the full analysis by Pacific Union Chief Economist Selma Hepp, click here. 

California’s Job Market Picks Up Speed in July

  Despite concerns over slowing employment growth, California added 46,700 jobs in July and revised June numbers to 21,500 new positions from an initially reported 800, according to the latest numbers from the state Employment Development Department. With the summer’s pickup in job additions, California’s 2.0 percent employment growth is again trending above the national rate of 1.6 percent. With the latest increase, California has added...

17 Pacific Union Professionals and Teams Named Among the Bay Area’s Best

Pacific Union would like to extend hearty and well-deserved congratulations to 17 of our real estate professionals and teams for being named among the Bay Area’s most productive in 2017. Now in its third edition, the Luxury Marketing Council’s 2018 Leading 100 rankings honors the top-producing Bay Area real estate professionals and teams based on 2017 sales volume. Seventeen Pacific Union professionals and teams were...