San Francisco Real Estate Market Update | August 2023

Generally speaking, the market slowed in July, a common seasonal trend, and August is usually one of the quietest months of the year - though last year, a sudden, but short-lived drop in interest rates kindled buyer demand in August. Underlying economic dynamics - interest rates, inflation, financial markets, employment - remain on the same general tracks as in recent months. The Consumer Confidence Index jumped in July, hitting its best reading since October 2021: The Index is now about halfway between its historic low in June 2022 and the pre-pandemic reading in February 2020.*