The SF Housing Market is Defying National Trends
In this brief market update, Austin Klar reports that San Francisco’s single‑family home market is tightening sharply. The monthly supply metric fell to 1.3 months in June 2024, down from 1.5 months a year earlier, meaning that, at the current sales pace, all existing homes would be under contract in just over five weeks if no new listings appeared. The proportion of homes that went under contract rose to 78.4 % in June 2024, up from 66.8 % in June 2023, indicating stronger buyer demand. Inventory is also contracting, with July’s total listings hitting the lowest level observed for a July in several years. Klar concludes that without a significant influx of new homes, price growth is unlikely to slow, and urges viewers to follow for more updates.
