Bye-bye Nancy? SF home listings up 96%

It seems that San Francisco residents are looking to leave in droves. Zillow report a record surge in listings, up 96%

SF Gate noted,

Online real estate company Zillow released new statistics shining a stark light on the issue this week. Their “2020 Urban-Suburban Market Report” reveals that inventory has risen a whopping 96% year-on-year, as empty homes in the city flood the market like nowhere else in America.

The reason for this change is likely a combination of a few unprecedented factors that have collided this summer, resulting in a historic shift in the city.

Zillow economist Josh Clark told SFGATE that the remote work shift alone has not sparked the exodus.

“It may be tempting to credit the city of San Francisco’s inventory boom to the advent of remote work that came with the pandemic, but one only has to look at to San Jose to question that narrative,” Clark said. “The San Jose metro, which like the city of SF is dominated by tech workers, has not seen a similar rise. Two things that could drive the difference are San Francisco’s density and its smaller share of family households.

Or maybe it’s the political class who have failed to solve homelessness and happily decriminalize public defecation on the streets. Yes, the city council thinks an app that allows residents to pinpoint human feces to alert cleaning squads is progress.

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