In summary, the high inventory levels have made the condo/loft market favor buyers. The single-family home market, however, once again favors sellers in San Francisco. Overall, the housing market has shown its resilience through the pandemic and remains one of the safest asset classes. As we digest seemingly endless stories on negative economic data, we are pleased to report that home ownership has offered a sense of stability.
Moving forward, we anticipate new listings to slow until excess inventory lowers. Home prices will likely remain stable, with no outsized gains or losses year-over-year. The fall/winter season tends to see a slowdown in activity, as well, although this year we may see a new trend since there may not be any seasonality as COVID keeps people at home.
I hope you found this info in this month’s newsletter helpful. Should you have any questions about the market, or wonder what home-improvement projects will give you the biggest bang for the buck, I am always just a cell phone call away: (415) 595-7661.