Bay Area’s Dubious Honor: Tightest Real Estate Market in U.S.

Tight Real Estate Market

San Francisco has the narrowest supply of homes for sale of any metro area in the nation, with San Jose right behind, according to figures released last week. Both real estate markets were four times more competitive than the national average.

That dubious distinction comes even as we reported last week that the inventory of Bay Area homes rose slightly in August. Any increase is welcome, of course, but our region needs more than a trickle of additional homes to meet the demand of eager buyers.

The latest numbers, from the research firm Redfin, show the San Francisco market* with a 1.2-month supply of homes for sale. (Put another way, that’s how long it would take for all the homes now on the market to sell, given the current sales volume.)

The San Jose metropolitan area has the second-tightest market, according to Redfin’s data, with a 1.3-month supply, and both regions were four times more competitive than the national average of 5 months’ supply.

Get the full story at https://compasscaliforniablog.com/bay-areas-tightest-real-estate-market-in-us