In my last post, I wrote that San Francisco’s residential market, fueled by the booming economics of local AI companies, was bucking the trend of most Bay Area counties by showing clear signs of strength while other counties stayed flat or faltered. Recent data suggests that this trend could be accelerating.
In Contract, Pendings, Sales Volume All Up
First, let’s recall that the music stopped in Spring, 2022, when the Fed started aggressively raising the Fed funds rate to cool economic activity and accelerating inflation after having kept interest rates near zero during the Covid Pandemic. ...
It’s not unusual for home sales to slow during the summer months. The same thing happens to an even greater degree in mid-Winter during the holiday season. In San Francisco, the result is a temporary moderation in sales prices.
