Having slipped one (1) percent in October, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, ticked down another 2.6 percent in November to 125.7 but is still 16.4 percent above its mark at the same time last year with 22 percent less on less inventory on the market nationally, versus 175 percent more inventory on the market in San Francisco, year-over-year.