The Market Accelerates Rapidly into Spring

Patrick Carlisle, Compass NorCal Market Analyst, March 2024

There is a growing sense that in 2023 San Francisco hit its post-pandemic low - economically, socially, and certainly in media coverage - and that it has now begun a significant recovery on all those fronts. Most importantly, confidence is rebounding in San Francisco's future as a financial and cultural center, as the heart, along with Silicon Valley, of the next big technology boom (Al), and simply as one of the great cities of the world.

Along with substantial macroeconomic improvements in interest rates (though they ticked up a little in February), financial markets - which recently hit all-time highs - and consumer confidence, these factors are also triggering a recovery in its housing market. This is now beginning to show up across a wide variety of indicators as we move into the spring selling season, typically the most active of the year.

For the entire report San Francisco Market Report March 2024.