An example of a severely outdated statistical norm often quoted is that 6 months of inventory signifies a balanced market. Perhaps, that might have been true 40 or 50 years ago (or in other areas of the country), but the last time the overall Bay Area saw sustained levels of 6+ months of inventory in the housing market was in late 2007- early 2009 during the subprime crash and deep housing market recession that followed. (The SF condo market also spiked over 6 months in the immediate aftermath of the pandemic hitting.)
To view Compass Bay Area Market Reports click here.
Interest rates are basically unchanged from last week (6.94% per Freddie Mac today). The same is true of the S&P 500, despite dramatic ups and downs over the period.
