San Francisco new construction sales increased moderately in November as the Pricing Index increased 5% from October. New Construction inventory is now down 26% since November 2016. The Seattle new construction Pricing Index rebounded in November with year-over-year gains of 28%. There remains an acute lack of inventory with only two selling developments representing less than 100 units. Price gains in Downtown Los Angeles increased slightly in November and are 6% higher than this time last year. New construction inventory is down 31% since November 2016. The Ten50 project is now 93% sold. Resale inventory is extremely low in San Francisco & Seattle, and is likely to result in continued gains going into early 2018.