While the number of homes listed for sale in San Francisco slipped 4 percent over the past week with typical seasonality in play, inventory levels are running 3 percent higher on a year-over-year basis as the pace of sales has dropped, a trend which shouldn’t catch any plugged-in readers by surprise.

At the same time, the percentage of listings in San Francisco which have undergone at least one price reduction has ticked up to 20 percent which is one (1) percentage point higher than at the same time last year.

And having hit a seasonal peak last month, expect inventory levels in San Francisco to inch down over the next month before jumping in September.

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