A good indication of market health is the number of properties sellers withdraw after the reality sinks in that buyers are not interested.
Sellers withdrew a total of 235 single-family homes, 331 condos, and 184 TIC interests from the market, from January-April 2009. Those are big numbers. Yes, times have certainly changed: Only 96 houses, 72 condos, and 87 TICs were withdrawn in the same time period in 2005.
Stay tuned: I’m sure many of these properties will appear on the market again over the next year, adding to the already heavy San Francisco inventory.