Despite the holiday weekend, the inventory of homes listed for sale in San Francisco increased 19 percent over the past week as new supply outpaced demand. Overall inventory levels are now running 17 percent higher versus the same time last year.
At a more granular level, the number of listed single-family homes on the market (164) is now 3 percent higher versus the same time last year, the first year-over-year increase for single-family homes in 2016, while the number of listed condos (245), which doesn’t include the vast majority of new construction units, is running 28 percent higher.
Expect the pace of new listings and overall inventory levels to continue to accelerate and steadily climb through June or July before retreating for the annual summer slowdown.
credit: socketsite