Having gained 7.5 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 2.2 percent to a reading of 122.4 in November and was down 2.7 percent, year-over-year.
At the same time, pending sales activity in San Francisco proper is currently down 25 percent on a year-over-year basis, based on our counts, which shouldn’t catch any plugged-in readers by surprise.