More condos and single-family homes have been listed for sale in San Francisco over the past week (128) than during any other one-week stretch since the same time last year.
That being said, overall inventory levels (496) are currently running 12 percent lower as compared to the end of the post-Labor Day week last year (561), but we still have a few more days before it’s an apples-to-apples comparison and listing activity is picking up steam.
As plugged-in people have long-known to expect, and others have only recently figured out, inventory levels should continue to climb through October based on seasonality (and then some).
UPDATE (9/11): The number of new listings over the past week in San Francisco is up to nearly 200 and counting. If the pace holds, the week will end with the most new listings for any one-week stretch since September of 2010.
UPDATE (9/14): While the pace didn’t hold to match the September 2010 mark, the number of new listings over the past week in San Francisco totaled 184, the most new listings for any one-week stretch since September of 2011. Inventory levels in San Francisco are currently running 4 percent lower versus the same time last year but climbing.
UPDATE: The number of new listings over the past week in San Francisco is up to nearly 200 and counting. If the pace holds, the week will end with the most new listings for any one-week stretch since September of 2010.
While the pace didn’t hold to match the September 2010 mark, the number of new listings over the past week in San Francisco totaled 184, the most new listings for any one-week stretch since September of 2011.
Inventory levels in San Francisco are currently running 4 percent lower versus the same time last year but climbing.
According to supply and demand, more supply means prices will come down, right?
What, you mean simple S&D models from Econ 1 don’t actually completely explain real-world markets?
To be fair to Econ101 it is the principles of MICROeconomics. While Econ102 is really the principles of MACROeconomics. I feel like everyone on SS and 48hills should reserve their ire for Econ102 and leave poor Econ101 alone.
If demand remains constant, then a greater supply will result in a lower price.
But one first has to define the relevant market to which one is applying these measures. And the slope of the supply/demand lines also has a big impact. Those are both big unknowns here.