Best automation opportunities for loan processing

Join our expert panelists to learn how lenders can achieve their goals using the integration of intelligent document automation and RPA technology.

4 Strategies to Strengthen Customer Relationships

Discover the right strategies to execute fast-acting campaigns, track results and improve your bottom line – all while strengthening customer relationships.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Real Estate

Housing alert: Is Oakland the new San Francisco?

Rising home prices move across the bay

Oakland, California, now surpassed surrounding cities to become the area’s most heated real estate market, according to an article by Alison Vekshin for Bloomberg.

During the first half of the year, single-family home and condominium sales dropped 10.3% in San Francisco from the same period last year, bringing home sales to their lowest point since 2008.

From the Bloomberg article:

“Something we had to wrap our head around really quickly was the fact that we were automatically going to bid at least 30 percent over asking,” said Smith, a 50-year-old strategy consultant who moved from San Francisco in search of more space for her family’s three kids. “It’s the new normal."

Oakland’s housing market is still soaring even as growth cools in San Francisco, where million-dollar median home prices have left buyers searching for more affordable alternatives. The East Bay city had California’s highest annual appreciation of home values and the biggest rent growth of the 50 largest U.S. cities as of June, according to data compiled by Zillow.

Currently, although the prices are rising rapidly, housing in the city is still more affordable than San Francisco, for now.

Just one month after posting a nearly four-year high, home sales in California took a step backwards in the month of July, with year-to-date sales falling from previous year for first time in 18 months, according to a new report from the California Association of Realtors.

From the article:

Houses are selling fast — and far above list prices. The average home in Oakland sold for 17 percent more than asking in the second quarter, according to data from Paragon Real Estate Group measuring properties that didn’t go through a price reduction first. That compared with 9 percent for San Francisco and 5 percent in Silicon Valley’s Santa Clara and San Mateo counties. Oakland homes were on the market an average of 20 days, fewer than the 34 days in San Francisco.

Most Popular Articles

Chopra warns of post-COVID housing market fallout

Rohit Chopra warned of housing market fallout and said he would focus on helping struggling homeowners at his Senate Confirmation hearing.

Mar 03, 2021 By

Latest Articles

CFPB delays QM compliance date to October 2022

The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022.

Mar 04, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please