Bay Area Population Change & Migration by the Numbers

Did you catch that Wall Street Journal article, “Americans Up & Moved During the Pandemic”? The big takeaway for San Francisco in the piece was that loss of households doubled in 2020 from 2019. But let’s look a little closer. Their analysis, which was based on permanent postal change-of-address filings in 2020, missed a few things. It did not include foreign migration, which plays a big role in Bay Area counties, nor did it include the effects of births and

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Everyone is Leaving San Francisco! Or Are They?

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A Bloomberg article came out swinging this week with a doozy of a headline — “Housing Prices are Booming in U.S. Cities — Just Not San Francisco or New York.” We wrote something recently about one of the reasons for these booming prices. But is San Francisco really being left behind? Here’s the thing. San Francisco condos were ignored in the price increases of 2020. In fact, inventory largely fueled by condominiums — particularly one bedroom and studios — hit an

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In San Francisco, Condos Buyers Emerge

During yesterday’s sales meetings, something unusual happened. After months of building inventory, we had our first week of more buyers than new listings. Here’s a little background and a look at what the most recent data is saying. Understanding Months of Inventory Months supply of inventory (MSI) is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are

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The Good/Bad in San Francisco’s Housing Market, August 2020

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It’s been interesting year, to say the least, and real estate is one of many industries experiencing some wild swings. As we wrap up summer in San Francisco, we’re seeing the softest recovery from the spring shelter-in-place mandate out of all the markets in the Bay Area. Supply and demand conditions in condos are noticeably weaker than the housing market. Here’s what else the data shows. Median Sales Price On a three-month rolling basis, median house sales prices in San

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Home Buyer Priorities Before & After Lockdown

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A recent look at buyers’ housing preferences and priorities pre and mid lockdowns can be summed up with this: there are a wave of buyers looking to trade up, but no one wants to compromise. The New Normal More time at home means a shift in priorities. Since the pandemic began, prospective buyers — which includes many who are looking to trade out of their no longer functional work and home spaces — have significantly changed their search parameters. The

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