With August home sales in San Francisco down 9.0 percent versus the same time last year, sales through the first eight months of 2019 totaled just under 3,600, which was down 7.5 percent versus 2018 and another 8-year low, despite a significant drop in mortgage rates since the fourth quarter of last year.

And while pending sales activity in September was down an average of 10 percent on a year-over-year basis as well, inventory levels have ticked up to an 8-year high, none of which should catch any plugged-in readers by surprise.

Comments from “Plugged-In” Readers

  1. Posted by Sabbie

    The latest round of tech IPOs have been the worst performing since 1999. Based on my recollection, employees are now watching the value of their stock options plummet (their supposed reward for working 80 hour weeks) and are probably thinking more about taking a year off to travel than buying an overpriced shoebox with used syringes out front.

  2. Posted by Anonoly

    I am looking at listings and almost everything has a price reduction of about 10%. It’s happening…

    • Posted by sparky-b

      Really almost everything is reduced? I am not seeing that in the segments I look at

    • Posted by Ohlone Californio

      What are you looking at? “Almost everything has a price reduction of about 10 % ? How? I’m looking at SFRs right now. There are a mere 315 for sale and only 14 even display a price reduction. I’m sure condos show more, and I’m sure some of the SFRs were pulled off the market and relaunched, but “almost everything + 10%” ? There is no way that can possibly be close to accurate. And I’ll note, again, a converse type statement regarding market strength would draw a series of snarky editorial comments without fail. Whether accurate or not the editor(s) would chime in with snarky opinion backed up by links to their own content. Yours is false, and absurdly so, yet it’s crickets.

  3. Posted by Ohlone Californio

    Another look at the market, here: there are 315 SFRs for sale. Yet there are 535 SFRs either contingent, pending, or sold since one month ago September 5.

    If you think that looks like a tanking market, I have a very lovely waterfront property to sell you. It is uniquely located on the north side of town with beautiful view, Its distinctive orange-red hue really pops!

  4. Posted by Anonoly

    There are a ton of price reductions out there. Much more than there have been the last 4 plus years. Why are you in denial about this? It appears that instead of actually looking at what is going on, you have an agenda to push. When confronted with any kind of stats, you reject them and say that’s what you’re seeing in the market; or you quickly run to the SFR segment, you’re last bastion of hope.

    • Posted by Ohlone Californio

      That’s nothing to do with what you said, which was. “almost everything has a price reduction of about 10%.”

      You need to own error before I engage with you, moving forward.

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