San Francisco Housing Market Trends

As of July 27 2008

The chart below is the current median single family home price in San Francisco. As of July 27 it is $846,53. It appears that price is holding fairly steady when compared to some of the outer markets such as Antioch or Sacramento. Note the following charts show sales activity and supply as increasing. In stock markets volume precedes price. This is a logical observation, Less sales and more supply should point to ever lower prices.

This chart below is a barometer of real estate supply and demand. A value above 30 indicates demand is relatively robust, we call that a Seller's Market. Below 30 is a Buyer's Market.

Inventory measures the number of properties for sale in a given real estate market. San Francisco has 600 properties on the market and this is the high season for sales.

All in all, inventory continues to build and price continues to drop. I have read that 70% of all property sold in the last 3-5 years were sub prime or ARMs. They should be resetting between now and 2010. Deals may be beginning to show in the more devastated markets and outer lying areas such as CoCo county, Solano and even Sonoma, but they have yet to really show here in the city.

Does San Francisco lag these markets because so many sub primes have yet to cause the defaults and foreclosures we see elsewhere or will the reverse commute bringing so many well paid Google and Apple employees into the city save the day....Its anybody's guess, but I think we will see cascading prices for quite a while to come. For those waiting to catch the bottom, be patient, its not here yet.

Thanks for Reading
Howard Bell
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