The inventory of homes listed for sale in San Francisco inched up another 2 percent over the past week to 640. That being said, while inventory levels are now 39 percent higher than at the beginning of May back in 2015, they’re now 1 percent lower than at the same time last year as well.

At the same time, the percentage of listings in San Francisco which have undergone at least one price reduction has inched up to 13 percent, which is even with the same time last year, while the percentage of homes on the market with price tags of a million or more is currently running around 27 percent (versus 31 percent at the same time last year).

And yes, we’re still expecting inventory levels to continue to climb through June in San Francisco, followed by a typical summertime lull and annual peak in the fall.

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