December 29, 2008

SocketSite's San Francisco Listed Housing Update: 12/29/08

San Francisco Listed Inventory: 12/29/08 (www.SocketSite.com)

Inventory of Active listed single-family homes, condos, and TICs in San Francisco fell 20.2% over the past two weeks (about average for the end of the year) and is closing out 2008 29.3% higher versus last year (60.1% higher versus 2006).

The standard SocketSite Listed Inventory footnote: Keep in mind that our listed inventory count does not include listings in any stage of contract (even those which are simply contingent) nor does it include listings for multi-family properties (unless the units are individually listed).

SocketSite's San Francisco Listed Housing Update: 12/15/08 [SocketSite]

First Published: December 29, 2008 10:00 AM

Comments from "Plugged In" Readers

More homes on the market, no surprise. I wonder what the decline of mortgage qualified buyers is realtive to available housing? I bet it's a higher percentage decline than available housing increase.

Less buyers, more available housing, points to one direction; down. Divergence is a bitch, and it's not even spring yet!

Posted by: marko1332 at December 29, 2008 12:53 PM

These numbers seem to indicate that summer is the best time to buy because there is always a relative increase in available listings then. There is another good reason to hold off for at least a few months rather than make a decision now.

Posted by: Mole Man at December 29, 2008 2:35 PM

But what we really want to know is "What color will the tireless SocketSite graphic design department choose for the 2009 curve ?"

I thought that orange was apropos just as that boxcar full of manure was being shunted next to the turbofan in 2008. Will 2009 bleed red ? We'll have to wait until January.

Posted by: The Milkshake of Despair at December 29, 2008 2:39 PM

or you could see the winter as being the best time to buy because the people who are still listing are, most likely, highly 'motivated' and willing to deal.

Posted by: badlydrawnbear at December 29, 2008 3:18 PM

I nominate any lovely share of green for the Socketsite.com graphic color for 2009.

To reflect the Truth too often utterly ignored by a thoughtless financial press that falling home prices are a good thing, because they create affordability for young couples, and they provide an advantageous cost-basis for new household formation that had too long been priced-out.

With regard to affordability, declining home prices are an exceptionally good thing for the economy in the Golden State, where businesses have in the past moved out-of-state to provide wage earners a quality of life that can include home-ownership at a reasonable cost. So that families can become homeowners without irresponsibly leveraging themselves to the hilt.

Green.

A beautiful color.
A hopeful color.
An inspiring color.

A color for a better tomorrow.

Posted by: debtpocalypse at December 29, 2008 6:49 PM

Where are you getting these numbers? According to the MLS there are 460 Single Family Homes, 479 Condos and 145 TIC's for a total of 1084 active listings.

[Editor’s Note: Our MLS counts are run Sunday evenings in order to keep the comparisons as "apples to apples" as possible. And the number of active listings will change throughout the day.]

Posted by: realtor at December 29, 2008 7:12 PM

Realtor (if you know) what were the SF homes at this time in '06 and '07, i.e. what is the condo glut mix.

[Editor’s Note: Apples to apples, 468 single-family homes (42% of MLS listings) at the end of 2008, 430 single-family homes (50%) at the end of 2007, and 269 single-family homes (38%) at the end of 2006.]

Posted by: plan C-sparky at December 29, 2008 8:42 PM

Ah, how refreshing. Realtors that care about data. That's cute.

Funny how they only care about correcting the data when it involves a "negative" data point.

If we had an open and free market free of realtor manipulation then their spin would be less harmful.

Posted by: SFHawkguy at December 30, 2008 5:44 AM

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