Summer Seasonality in the San Francisco Homes Market
Are we in a summer slow down for home sales here in San Francisco? The charts below reflect a slowing in June, so I’m thinking we’re in the summer season doldrums. Yet, there are new listings coming up and new sales taking place. There’s some activity even in slower months. With this in mind, and with an eye on specific properties and their marketability, this seasonal weakening period could be a smart time to buy or sell.
What contributes to seasonal slumps? Inventory levels, buyer demand, and median home prices are the major players—as the charts illustrate. Additionally, there are factors of general economic conditions, financial market movements, interest rate changes, local stock market IPOs, new construction coming on the market, and the unpredictable natural or political events. That’s quite a murky crystal ball. We’ll probably have to wait until July/August is over, and get into the autumn season to get a real sense of how the SF market is doing.