The May U.S. Jobs Report Is a Slam Dunk

Today’s national employment report from the U.S. Bureau of Labor Statistics offered further confirmation of the U.S. economy’s strength, reporting an increase of 223,000 jobs in May. Job gains have averaged 202,000 per month in 2018. The current economic cycle is the longest continuous expansion on record, with 92 straight months of job additions. The national unemployment rate fell to 3.8 percent, similar to April...

Home Sellers: Think Twice Before Using a Discount Brokerage

While so-called discount brokerages — those that reduce their real estate professionals’ commissions to drive market share — claim to save home sellers money, they can actually cause their clients to leave money on the table. First, it’s important to understand how the discount-brokerage business model works. Rather than working solely on commissions, as Pacific Union and other real estate brokerages do, real estate professionals...

U.S. Home Prices to Keep Rising for Rest of 2018, Forecast Says

The National Association of Realtors projects that U.S. home prices will increase by 4 percent in 2018. Between 2011 and 2017, home prices grew by more than three times faster than wages, worsening affordability. Although housing inventory conditions are at the lowest level in a generation, NAR expects that home sales will increase slightly year over year in 2018. The year 2018 is already almost...

Real Estate Roundup: U.S. Homes Are Selling Faster Than Ever This Spring

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. PERSISTENT INVENTORY CONSTRAINTS SUPPRESS APRIL U.S. HOME SALES Both homebuyer demand and tight inventory conditions continued in April, holding back sales and causing properties to fly off the market. The latest monthly existing home sales report from the National Association of Realtors says that U.S. properties sold in a median...

Pacific Union Wishes You a Happy Memorial Day 2018

Happy Memorial Day from Pacific Union! We salute and thank all those who sacrificed their lives for America, as well everyone who currently serves or has served in our country’s military. We hope your long weekend is a safe and enjoyable one. We will return tomorrow with the latest news and exclusive analyses of California real estate markets, so please check back! (Photo: iStock/terrywen412)

Real Estate Professionals Unanimously Agree on the Importance of Curb Appeal

Ninety-nine percent of real estate professionals say that a home’s curb appeal is key to attracting a buyer. Lawn care is the outdoor home improvement that has the biggest impact on buyers and is estimated to recoup 267 percent of its cost at the time of sale. Installing a swimming pool is the most expensive outdoor home improvement and also offers the lowest return on...

Bay Area Cities Rank as Best in the World for Future Momentum

Half of the world’s top 30 cities that are best prepared for the future are in North America. San Francisco and Silicon Valley rank a respective No. 1 and No. 2 on the list of “future-proofed” metropolitan areas. Los Angeles and San Diego also rank among the world’s top 10 future-proofed cities. The Bay Area’s real estate market and high-performance economy are currently running at...

San Francisco: America’s Top Job Market for Movers

About one-third of applications on job-search engine Glassdoor are from workers seeking to relocate. San Francisco is the most popular U.S. job market for employees who are willing to move. San Jose and Los Angeles rank a respective No. 3 and No. 4 for the highest number of job applications from elsewhere in the country. Despite the Bay Area’s exceptionally high housing costs, the region...

Video: California April Jobs Report

Check out this short animation that offers highlights of April’s California jobs report. To read the full analysis by Pacific Union Chief Economist Selma Hepp, which includes detailed information on Bay Area and Los Angeles County job markets, click here.