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Supply increased significantly due to condo and SFH owners opting to wait it out until 2021 rather than test the sales market (listed as rental and willing to o
by hkmurakami 6y ago
Supply increased significantly due to condo and SFH owners opting to wait it out until 2021 rather than test the sales market (listed as rental and willing to offer competitive prices since they’re sensitive to vacancies). This is driving the General strength in sales pricing for Bay Area housing. Demand for buying has come back strong in May while supply’s return is slow. I do see listings picking up in the last 2 weeks. Summer will be interesting.
- yodon 6y agoCan you explain more about this?
- Stanleyc23 6y agoI believe they are contrasting the supply of property used for real estate sales vs for rentals. Owners that would have put their properties on the market are supposedly holding off on selling and instead listing them as rental units. An increase in availability of rental units would drive down the price of an apartment.
- arbitrary_name 6y agoAnd don't forget the impact to demand of university enrollment. Very interested to see what will happen to rents around Palo Alto once the Stanford grad residences are complete and Stanford finalizes its plan to resume the fall and winter quarters.