Inventory Crunch is Causing Higher Prices
Econ 101, Supply and Demand: When demand outstrips supply prices go up. The more demand the faster prices climb. That is what we are experiencing in San Francisco and there is no end in sight.
New Listings were down 16.1 percent for single family homes and 28.9 percent
for Condo/TIC/Coop properties. Pending Sales increased 6.3 percent for single
family homes but decreased 5.6 percent for Condo/TIC/Coop properties.