For the first time since San Francisco’s stay-at-home order was issued in March, the number of homes in contract to be sold is effectively even on a year-over-year basis.

That being said, the rebound in “pent up” sales activity, which was down nearly 50 percent at its nadir in April, has already flattened, pending sales only inched up a percent over the past week and total sales are down around 25 percent for the year.

As we noted a few weeks ago, the drop in volume will be difficult to make up when it comes to annual sales, particularly as the hit occurred at the height of the typical spring buying/selling season.

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