December 29, 2008
SocketSite's San Francisco Listed Housing Update: 12/29/08
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.
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