While the inventory of homes for sale in San Francisco is now running 40 percent higher on a year-over-year basis and price cuts are on the rise, the number of homes in contract remains lower versus the same time last year.

And in fact, while the year-over-year drop in pending sales was running an average of 5 percent lower in September, the pending sales volume has remained an average of 13 percent lower in October, as we first reported earlier this month and shouldn’t catch any plugged-in readers by surprise.

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