Pending Home Sales in San Francisco Down Over 30 PercentJuly 27, 2022
As we outlined earlier this week, the recent decline in listed inventory levels in San Francisco is being driven by a slowdown in new listing activity versus an increase in sales. And in fact, despite the fact that listed inventory levels in San Francisco have been up over 30 percent on a year-over-year basis over the past three months, the number of single-family homes and condos in contract across San Francisco dropped another 4 percent over the past two weeks is now down 34 percent on a year-over-year basis versus closer to 14 percent nationally in May.
And with the drop over the past week, home sales in San Francisco have been down on a year-over-year basis for 34 straight weeks, with an average year-over-year drop of 19 percent since the start of the year and 30 percent over the past month.
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The Google bus has left the building.
..and it crashed into a fleet of stalled robot cars.
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