Increase in pending sales in San Francisco

In the coming months San Francisco will experience an increase in closed sales because the number of pending sales has increased by 8.9% which represents 2.6 months of the current supply of homes.  If supplies continue to decrease and demand stays strong, maybe a seller’s market might be on the horizon.

The market will change if employment increases and interest rates stays affordable.  However, if more distressed homes come on the market, we may not see a market shift for a long time or we may see a double dip in prices.