Over the past two weeks new listings have outpaced new sales in San Francisco as listed housing inventory has increased ~11% in a typical post-Memorial Day bump. At the same time, listed inventory is currently running ~13% below 2006 levels.
∙ San Francisco Housing Inventory Update: 6/01/07 [SocketSite]
months supply???
Less than two months….
Is YOY inventory decrease due to increased sales or people pulling homes off market?
Sales volume in San Francisco has been falling over the past three years and is down 10% YOY.
https://socketsite.com/archives/2007/06/san_francisco_home_sales_drop_median_sales_price_up_on.html
Hard to blame “increased sales” for the decline in inventory. Perhaps the flippers/speculators have been chased out of the market?
That’s the extent of the inventory? Does that include all of those SOMA developments?
[Editor’s Note: Nope. That’s only listed inventory. We’ll be publishing an unpdated Complete Inventory Index (Cii) in a few weeks.]
Perhaps listed inventory is worthless and not relevant in regards to condition of housing market due to supply/demand manipulation?
Is withholding supply to maintain prices legal in other types of markets such as stocks and commodities?
Thanks for the added info. That inventory count still stuns me – that just seems incredibly low considering the population size (check out what’s available in Denver, CO for example).