Although inventory has been improving modestly in the Bay Area over the past couple of months, it is still insufficient to meet demand, causing most homes in the San Francisco metropolitan area to sell for premiums this summer.
Home Sales Volume & Inventory Conditions
Stubbornly low supply conditions did not improve in California or the Bay Area on an annual basis in November, pushing prices up by double-digit percentage points in six local counties.
The number of homes for sale declined statewide and in every Bay Area county from one year earlier -- particularly entry-level properties -- keeping prices at a 10-year high.
Pending home sales activity continued to decline in both California and the Bay Area last month, with tight inventory conditions once again the culprit.
April 20, 2017 • Posted in Home Sales Volume & Inventory Conditions
After a particularly rainy January and February, Bay Area home sales jumped in March as the region dried out a bit, although low inventory and the consequent affordability conditions are likely to stifle activity as the year progresses.
March 23, 2017 • Posted in Home Sales Volume & Inventory Conditions
Pending home sales dropped statewide and in the Bay Area in February due to an all-too-familiar culprit: extremely tight inventory.
Pacific Union Chief Economist Selma Hepp examines January home sales volume activity and inventory across the Bay Area and finds noticeable differences between individual markets.
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