Pacific Union Quarterly Report: Q3 2018
October 16, 2018
October 16, 2018
October 15, 2018
October 12, 2018
For the second year in a row, most of the greenest cities in the U.S. are in California, again reflecting residents' environmentally conscious natures.
From stunning natural beauty to pleasant year-round weather to unique architecture, San Francisco has a whole lot going for it, not the least of which is the city's fabulous dining scene.
Intense demand for U.S. real estate combined with a shortage of homes on the market have caused prices to soar over the past few years, helping to fuel an increase in the number of Americans who are dishonest on their mortgage applications.
Silicon Valley posted the most new home listings in the country on an annual basis in September, while the U.S. employment rate has fallen to its lowest level since 1969. Get these and other stories of note from around the housing world in Pacific Union's latest Real Estate Roundup.
Almost one-third of the U.S. population now lives in an area where a six-figure income is necessary to afford a home purchase, and here in the Bay Area, buyers will need to earn quite a bit more than that to get a foot in the door.
America's housing market continues to see annual price appreciation, but gains are beginning to slow, driven in part by higher mortgage rates. Potential homebuyers in California and the Bay Area, however, are not seeing as much relief, with prices growing at roughly double the national average.
Golden State homeowners once again enjoyed the largest equity gains in the country in the second quarter, and that trend appears poised to continue, as California's is projected to lead the U.S. for annual home price appreciation by the summer of 2019.
A relatively affordable ZIP code in Alameda County ranks among the country's hottest real estate markets this year. Meanwhile, mortgage rates have climbed to a seven-year high. Read more in Pacific Union's latest weekly Real Estate Roundup.
Pacific Union Chief Economist Selma Hepp digs into the implications that Proposition 10 -- which would repeal the Costa-Hawkins Rental Housing Act -- would have on California housing markets.
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