Jul 23, 2024 - News
Our limited housing supply
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Despite housing supply creeping up in recent months, it's still far from balanced in the Bay Area.
Why it matters: Housing supply has a big impact on affordability.
The big picture: The housing market is considered balanced when supply meets the six-month level. Nationally, this hasn't happened since 2012.
- Fewer than six months of supply indicates a seller's market, while more months indicates a buyer's market.
By the numbers: In May 2019, the Bay Area had 1.4 months of available housing supply compared to two months worth in May 2024, according to Redfin's housing market analysis.
- Statewide, housing supply has yet to return to pre-pandemic levels.