Having ticked down last week, the net number of homes on the market in San Francisco (i.e., inventory) has since ticked back up to an 11-year seasonal high, driven by a rebound in new listing activity as well as a continued slowdown in sales.

As such, there are now 18 percent more homes on the market than there were at this time last year, 70 percent more than there were prior to the pandemic and over twice as many as there were at the end of April in 2015 with roughly a quarter of the active listings having been reduced at least once versus under a fifth at the same time last year and closer to a tenth back in April of 2019, prior to the pandemic.

And in terms of sales, the slowdown is both relatively and in the absolute, down 16 percent on a year-over-year basis and 2 percent over the past week despite the increase in inventory. We’ll keep you posted and plugged-in.

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