While sales volume of single family homes, condos and TICs in San Francisco was running ~11% below 2006 levels in May, listed housing inventory is currently down ~18% on a year-over-year basis. A quarter of which (okay, so 24.3%) has been reduced at least once.
In terms of “official” listed inventory, that’s right around two months. Of course there’s also a fair amount of “unofficial” (and unlisted) inventory to consider (and absorb) as well. And for those numbers you’ll just have to “plug in”
tomorrow Wednesday Thursday for our third quarter Complete Inventory Index (Cii) and update for San Francisco.
∙ San Francisco Home Sales Drop, Median Sales Price Up (Enter Mix) [SocketSite]
∙ SocketSite’s Complete Inventory Index (CII): Q1 2007 [SocketSite]