Across most of the Bay Area, the severe economic volatility which prevailed in Q2 - and the absence of a meaningful decline in mortgage interest rates - generally caused a significant year-over-year weakening in the spring selling season, usually the most dynamic of the year.

Ongoing volatility in political/economic conditions - particularly the plunge in stock markets in April, which affected May home sales - took some of the wind out of the spring real estate market, usually the most dynamic of the year. Uncertainty regarding the economy and the possible implications for personal financial circumstances understandably made a proportion of buyers and sellers hesitant about moving forward.

While most of the Bay Area saw significant shifts to more uncertain and uneven markets in April, the SF house market remained characterized by robust demand, though its condo market remained much softer. However, there were indications of increased hesitancy among some buyers as they tried to come to terms with new economic uncertainties both personal and macroeconomic.

It's hard to know what to say regarding the staggering volatility and uncertainty that has recently characterized political and economic conditions, much less predict how they will play out over either the short or long term. As of the week ending April 4th, both consumer confidence and financial markets have seen enormous declines...

Market activity and demand - as defined by listings gong into contract, speed of sale, and overbidding of list price - rose in February. Unlike other Bay Area markets, San Francisco has not seen a substantial increase in the number of homes for sale...