2021 was a busy year in the San Francisco real estate market. The following charts reflect the heightened level of activity, particularly for single family homes. This past year saw a return to a more normal seasonal cycle of sales, after the pandemic’s disruption of these patterns the year prior.
As we head into 2022, the inventory of homes for sale is ticking back up, with the net number of homes increasing by 9% last week, and inventory levels at 25% higher than pre-pandemic. We’re also seeing mortgage interest rates increase, with the average rate for a benchmark 30-year mortgage up 0.23 percentage points over the past week to 3.45%, the highest average rate since March of 2020.