Home Prices Are Peaking Everywhere as Summer Arrives

U.S. home prices reached an all-time high of $264,800 in May. California and Bay Area home prices also climbed to a new peak in May, a respective $600,860 and $1,088,000. While nationwide housing starts are near an 11-year high, that is still 30 percent less than needed to meet buyer demand. Hot on the heels of a report that both California and Bay Area home...

California’s Median Home Price Climbs to New All-Time High

The Golden State’s median single-family home price was $600,860 in May, surpassing the previous peak set in May 2007. For the second straight month, home prices in the nine-county Bay Area reached a new high, ending May at $1,088,000. Homes in Santa Clara County sold in an average of eight days in May, making it California’s fastest-paced housing market. A continued shortage of homes for...

California’s Unemployment Rate Maintains Record Low in May

The Golden State added 5,500 jobs in May and downwardly revised April’s monthly growth to 25,600, according to the latest numbers from the California Employment Development Department. This year’s job numbers have been unusually volatile, mostly due to larger-than-usual changes in industries that are sensitive to seasonal trends. Total state numbers also differ slightly from changes seen at metropolitan area levels, suggesting that statewide numbers...

Video: California May Jobs Report

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

Real Estate Roundup: The Median Down Payment in Silicon Valley Is $300,000

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. BAY AREA HOMEBUYERS CONTINUE TO LEAD THE NATION FOR DOWN-PAYMENT SIZE Amassing a down payment is frequently cited as one of the biggest hurdles to homeownership for first-time buyers, and a recent report sheds light on how difficult that task currently is in the Bay Area’s sky-high housing market. That’s...

Want to Be a Good Neighbor? Avoid These Behaviors.

A recent poll found that Americans think that nosiness is the worst quality in a neighbor. Nearly half of those surveyed have observed their neighbors be too loud, fail to clean up after pets, and violate parking protocols. One-third of baby boomers have reported getting into a verbal or physical confrontation with a neighbor. Anyone who hopes to be known as a good neighbor would...

Millennials Are Now the Most Active Home Remodelers

Millennials have completed more home-improvement projects over the past 12 months than any other generation. Despite increased home-renovation activity by millennials, they still spend the least on projects, while baby boomers spend the most. Tight inventory conditions and rising mortgage rates should cause both remodeling activity and spend to grow in the coming years. Having either purchased lower-end homes in need of renovations or unable...

San Francisco Has the Nation’s Fewest Delinquent Mortgage Holders

The U.S. mortgage-delinquency rate dipped to 4.3 percent in March, the lowest since March 2007. In the San Francisco metropolitan area, 1.5 percent of homeowners are delinquent on their mortgages, the fewest of any large U.S. housing market. Mortgage delinquencies rose in the Santa Rosa and Napa metro areas from one year earlier, likely a result of October’s wildfires. A thriving economy and rising home...

The Bay Area’s Median Home Price Climbs to $1 Million in May

Executive Summary: The Bay Area’s median home price reached $1 million in May, a 17 percent year-over-year increase, with Silicon Valley continuing to post 30 percent appreciation. Homes sales activity matched last May, with San Francisco showing the strongest gain, up by 7 percent year over year. Napa County sales were slower than last year. Higher-priced sales rose up by about 30 percent. Activity in...