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Key Takeaways From Pacific Union’s Real Estate and Economic Forecast to 2020

Yesterday, Pacific Union held its fourth annual Real Estate and Economic Forecast in partnership with John Burns Real Estate Consulting to project Bay Area activity through 2020. Below are some key, high-level takeaways from the live event. To watch the … Continue reading

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First-Time and Bay Area Homebuyers Have Much to Lose From Proposed Tax Changes

Executive Summary: Proposed tax changes that impact individual ownership of real estate include: Eliminating deductions for state and local income taxes Lowering the cap on mortgage interest deductions on newly issued loans totaling no more than $500,000, down from the … Continue reading

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U.S. Median Home Price Again Hits New High

• The median sales price for a U.S. home rose to $248,000 in the third quarter, another record high. • San Jose and San Francisco home sellers reaped the largest profits for the third straight quarter, a respective 80 percent … Continue reading

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San Francisco Again Named America’s Greenest City

• For the second straight year, San Francisco ranks as the most environmentally friendly U.S. city. • Seven of America’s top 10 green cities are located in California. • San Francisco and Oakland are among the nation’s 10 best cities … Continue reading

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Rising From the Ashes: How Will the Wine Country Wildfires Affect Its Housing Markets?

Executive Summary: The Wine Country wildfires are estimated to have destroyed about 2,800 homes so far, or about 5 percent of Santa Rosa’s housing stock. The current property damage approaches $4 billion. With rents and home prices already growing robustly, … Continue reading

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September U.S. Jobs Report Offers Continued Optimism Despite Conflicting Numbers

While U.S. employment numbers fell for the first time in seven years, the decline was anticipated due to the notable impacts of Hurricanes Harvey and Irma, which disrupted work and typical hiring trends in much of the South and Southeast. … Continue reading

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Kitchen Renovations Offer Homeowners the Largest Returns

• Nationwide, a complete kitchen renovation nets a return on investment of 62 percent when a home is sold. • In the San Francisco and San Jose metropolitan areas, kitchen remodels return more than 100 percent of their costs at … Continue reading

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The Bay Area’s Economy Grew at the Strongest Rate in the Nation in 2016

At 5.2 percent, the Bay Area’s¹ gross domestic product (GDP) grew at the fastest rate in the nation and among California metropolitan areas in 2016, according to the U.S. Bureau of Economic Analysis Gross Domestic Product by Metropolitan Area 2017. … Continue reading

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August Was a Mixed Month for Job Creation in California

Following incredible job growth in July, which was revised upward to 84,500 positions, the August data release from the California Employment Development Department was a mixed bag, showing a decline of 8,200 jobs. However, the overall state number carries some … Continue reading

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Annual Home Price Growth Recorded in 9 of 10 U.S. Metro Areas

• Nationwide, the median single-family home price grew by 6.2 percent year over year in the second quarter to reach a new peak of more than $250,000. • Annual appreciation in the Bay Area’s two largest metropolitan areas outstripped the … Continue reading

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