Zillow 2020 Urban-Suburban Market Report - Zillow Research
In light of the changing work landscape, suburban housing markets have not strengthened at a disproportionately rapid pace compared to urban markets.
Hasnain says:
Interesting analysis of the housing market as a whole across the US. The breakdown for SF in particular is an outlier:
“When comparing the principal city to its surrounding suburbs, the San Francisco metro area does break the mold. Higher levels of inventory, up 96% YoY following a flood of new listings during the pandemic, are sitting on the market in the city proper, a significantly larger jump than the surrounding suburbs. Whereas in similar cities like Los Angeles, Miami, Boston, Seattle, and Washington, D.C., declining or flat inventory is a consistent trend within and outside the city limits. Relatively higher inventory has different causes by city, and is not clearly attributable to either supply or demand. In San Francisco, though, the softening is clear as sellers inundate the market and buyers have not changed their pace to match — newly pending sales in the city are up only 1.7% YoY. “
Posted on 2020-08-16T06:18:16+0000