Anyone that is out looking for a home in San Francisco can tell you that inventory is low. How low is it? Well comparing January 2013, 2014 and 2015 data, inventory is down by over 30%. Sure there are off-market listings and new construction opportunities that don’t show in this MLS data but still when comparing year over year numbers the results and significant.
So we should not be surprised that days on market numbers are down and prices are up. The small sliver of good news is it seems that we have developed a more consistent seasonal pattern and march should bring much needed inventory to the market. Here is hoping.
