SF Housing Market Conditions: March 3rd, 2008

Charting San Francisco Home Prices Supply and Days on Market

Its a good idea to look at some recent charts that can show us how price is acting in relation to demand. Generally, you want to see price supported by strong demand. If the price is rising and demand is dropping we are not hitting on all cylinders.

The first chart below tracks how long it takes for a San Francisco home to sell. As of March 8th it is about 55 days. Although higher than it has been in the past, we are not looking at a crises situation here. As an example of terrible, Antioch's housing market is about 42% foreclosed sales, taking almost a year to sell if at all.

This second chart below concerns me. As I said above when you have rising prices and declining interest something has to give. The San Francisco housing market has been pulling this configuration off for quite a long time. Still, conditions have really changed in our markets. The more these two charts support each other the less likely we will have a real snap back. Keep your fingers crossed.

Thanks for Reading
A 450 article real estate web site focused primarily on property management. Always free.

No comments: