The article by Hannah Norman, San Francisco Business Times
Published : December 26, 2018
The Bay Area's housing market continues to buck the national trend as inventory climbs amid sky-high prices.
A new report by real estate website Trulia finds that since 2017's fourth quarter, San Jose's listings expanded by 66.6 percent, and San Francisco added 36.5 percent more inventory across all home types. Meanwhile, total inventory nationwide declined 4.6 percent in that same period.
“After promising signs of slowing inventory declines last quarter, the news is mixed as we close out 2018,” said Cheryl Young, Trulia senior economist, in a statement. “While more sellers are listing homes in expensive West Coast markets, most homebuyers must still contend with tight inventory that’s down 24 percent from five years ago."
Trulia used the for-sale homes listed on its platform to calculate housing inventory nationwide, as well as in the 100 largest U.S. metros, for the categories of starter homes, trade-up homes and premium homes. Numbers were pulled from October 1 to December 1, 2018.
