The number of homes on the market in San Francisco jumped nearly 20 percent over the past week and is poised to climb over the next couple of months, with properties that failed to sell in 2023 re-listed anew and sidelined sellers that were waiting for mortgage rates to drop start to get flushed out.

And while still 6 percent lower than at the same time last year, driven by a drop in turnover, listed inventory levels in San Francisco are still 40 percent higher than average for this time of the year, 60 percent higher than prior to the pandemic and over twice as high as in January of 2015, which continues to drive prices down.

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