SF Real Estate Update: Rate Cuts Back on the Menu, Pride Events & More

Hi friends, lots happening in SF and the housing market!

The big Pride Month events are coming up, and our June San Francisco Real Estate Market Update is up on the blog for those interested in a deep dive. Let’s get into the rest.

Rate Cuts Back on the Menu

As we head into summer, there are signs of potential relief for homebuyers. Fed Chair Powell recently acknowledged that the labor market is no longer tight, with job openings back at 2019 pre-Covid levels. Inflation data also came in cooler than expected last week, another positive sign.

While the Fed left interest rates unchanged at their latest meeting, the door appears to be opening for rate cuts this year if economic indicators continue to show signs of cooling. This could provide a much-needed boost to home buyer demand, mobility and affordability.

(Danielle’s recent listing, a fixer-upper in north slope Bernal Heights, received 27 offers. For many properties, priced and presented well, demand is already here.)

Curious about buying your first or next home in this market? Join Vivre’s own Katie Funk Moss next Wednesday for a virtual homebuyer seminar!

Demystifying Bay Area Homebuying

June 26, 5:30-7pm PST

Virtual Event - Presented by Katie’s UM Alumni Assoc. All are welcome!

Sign Up Here

The Comeback Kid

Meanwhile, San Francisco is continuing its comeback. Did you know we had a net population INCREASE last year? Take that, Florida/Texas!

A few highlights from Bloomberg:

• Billionaires and corporations are betting on San Francisco's recovery, scooping up discounted office properties.
• Tech, particularly the AI boom, is helping to fill office vacancies, and traditional tenants like finance and legal firms are also returning.
• Visa opened a new headquarters near Oracle Park with stunning bay views.
• Nintendo has chosen Union Square for its second US retail store.
• San Francisco's population decline has halted, with a small net gain in 2023.
• Social and cultural events are surging, from sold-out concerts to night markets in Chinatown. Did someone say Skrillex? 

And did you see? Anchor Brewing bought by yogurt billionaire. An SF icon is saved. We’ll crack a cold one to that. 🍻

Dancing in the Streets

In other exciting news, Downtown First Thursdays are back starting July 4!

A free monthly street party hosted in downtown SF, every first Thursday of the month from 5pm to 10pm, DFT will have disco in the streets, DJs, live music, drag, fashion, street performances and more. Details at DFTSF.com.

See you out there?

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