💻Microsoft Brings Ignite to SF for the First Time in 31 Years

Driving the news: Microsoft is bringing its flagship Ignite technology conference to San Francisco’s Moscone Center in November 2025. This marks the first time in the event's 31-year history that it will be held in San Francisco.

Details: Due to take place November 17, 2025, Ignite is projected to bring $41.5 million in direct spending and 61,510 booked hotel room nights. The announcement follows a year where San Francisco Travel signed 22 future events, forecasting $595 million in spending through 2035.

Why it matters: This announcement signals a resurgence for San Francisco’s tourism and convention economy, which has faced significant challenges in recent years. High-profile conferences like Ignite are a win for local hotels, restaurants, and small businesses, driving foot traffic and revenue downtown.

The big picture: 2025 and 2026 are shaping up to be recovery years for the city, with major events like the 2025 NBA All-Star Game, the 2026 Super Bowl LX, and Salesforce’s Dreamforce conference already confirmed. Ignite joins a growing list of events bolstering Moscone Center’s reputation as a premier convention hub.

What’s next: The Ignite conference is expected to focus heavily on emerging technologies like AI, as seen in this year’s edition in Chicago. The spotlight will be on how the event further energizes San Francisco’s economic recovery.

🍽️Four SF Restaurants Among America’s Best in 2024

Driving the news: Four San Francisco restaurants have earned a coveted spot on OpenTable’s 2024 “Top 100 Restaurants” in America. The annual list, compiled from over 14 million diner reviews, highlights the most celebrated dining experiences across the country.

Why it matters: San Francisco’s culinary scene continues to set the bar for innovation and excellence, securing its reputation as a top food destination. These recognitions not only boost local pride but also attract visitors eager to experience the city’s world-class dining.

The big picture: California dominated the list, with 17 restaurants recognized statewide, underscoring the state’s culinary diversity and talent. For San Francisco, this achievement reflects the city’s resilience and dedication to exceptional hospitality despite recent challenges in the restaurant industry.

🎥 Inside San Francisco's Most INCREDIBLE Neighborhood (St. Francis Wood)

One of San Francisco's most stunning neighborhoods, St. Francis Wood, earned its place on the National Register of Historic Places in 2022! This exclusive enclave offers a unique suburban feel within the city, featuring fully detached homes, wide tree-lined streets, and ocean views.

In my latest YouTube video, I take you on a tour of this historic master-planned community, one of SF's eight original "residence parks".

Ready to explore this historic gem?

💼How Hybrid Work Is Reshaping SF’s Office Market

Driving the news: San Francisco's office market is undergoing a period of significant change, as reflected in the latest quarterly report. The data highlights trends in vacancy rates, rental rates, leasing activity, and tenant dynamics in one of the nation’s most dynamic commercial real estate markets.

Details

• Vacancy rates: Indicate a continued softness in demand, with rates increasing slightly from the previous quarter, but largely stabilizing from rapid hikes during the pandemic.

• Rental rates: Average asking rents saw minimal fluctuation, suggesting a period of stabilization despite economic pressures.

• Leasing activity: New leases remain subdued, while renewals dominate, reflecting cautious tenant sentiment.

• Tenant trends: Tech companies continue to reassess their office footprints, contributing to the slow absorption of available spaces.

Why it matters: The performance of San Francisco’s office market is a critical indicator of the city’s economic health. High vacancy rates impact property values, tax revenues, and the broader ecosystem of downtown businesses like cafes, gyms, and retail outlets that rely on office worker traffic.

The big picture: San Francisco’s office market reflects broader challenges in adapting to hybrid work models, rising interest rates, and shifting corporate priorities. However, these trends also present opportunities for creative reuses of office spaces and innovation in commercial real estate strategies, like at the Transamerica Pyramid, where asking rents in the newly renovated luxury spaces are triple the city average.

What’s next: Market experts suggest that stabilization could be on the horizon, contingent on economic recovery and workforce trends. Policymakers and property owners are likely to explore new approaches, from converting office spaces into residential units to incentivizing businesses to invest in the city.

📊 Market Trends

Interest rates continue to fall after their dramatic uptick in October. During October, average 30-year-fixed rates increased over 0.75%, and breached 7.0%, a figure not seen since July of this year. But as the weeks went by post-election, the market has started to calm down and rates are back under 7.0%. The top-tier conventional rate for a 30-year-fixed mortgage was 6.88% as of Friday, November 29.

As mortgage rates eased over the past several weeks, mortgage purchase applications also rose, indicating stronger buyer demand in response to falling rates. We’ve seen this trend play out consistently throughout the past several years—as rates fall, purchase applications rise; as rates rise, purchase applications fall. Buyers are keeping an eye on rates and are more likely to enter the market when rates fall.

As always, I’ll keep an eye on the data so don’t have to. Reach out with any questions.

🗞️ In Other News…

• 4 treats to try at new Bay Area bakery — if they’re not already sold out

• A roller coaster on the roof? No one did Christmas harder than San Francisco’s Emporium

• Acclaimed SF chef makes magic inside downtown mall food court