The Mark Company: No New Construction in July
The July 2016 monthly report from The Mark Company (recognized authority on urban residential real estate sales and marketing, including in San Francisco) just came out. It’s interesting reading in that just as has been noted during this month’s round of blogs condo inventories are high, sales are slower (with some district exceptions) and there was no new construction affecting residential real estate in July. All this, according to expert SF real estate watchers, is an expected normalizing of the market.
The report starts off with this positive observation: No new construction inventory entered the market during July as we continue to see some signs of market normalization. Watch for competition to heat up as we approach the traditionally strong fall months and new product hits the market. San Francisco expects to add approximately 300 units by year-end.
Click here to view the complete San Francisco report as an online PDF.