January 24th, 2012
According to an article in the San Francisco Chronicle, the amount of homes for sale has hit a 12 month low.
Redfin’s analytical data has “found that given the relatively sparse number of homes on the market, it’s becoming more of a – surprise! – seller’s market out there,” reported the Chronicle.
In a balanced housing market, there is typically 5-6 months “supply,” or homes for sale. In December San Francisco hit a low of a 1.6 month supply.
Are you surprised by this change in the housing market in the city by the bay?