IPO offerings will give San Francisco employees newfound wealth for a home, perhaps at MIRA (credit: Jason O'Rear).
SAN FRANCISCO—Following a lackluster first quarter for housing market activity in the Bay Area, potential impacts around Lyft's, Uber's and Pinterest's already filed IPOs, and other anticipated IPOs have started driving buyer and seller behaviors. Most notably, while inventories increase across the region, San Francisco sellers are holding back, according to research by Compass Real Estate.
A look back at the first quarter activity suggests buyer hesitation, which started in second half of 2018 and continued into early months of 2019, bringing home sales down 10% below last year's levels. The largest monthly decline, however, occurred in March when sales dropped 14%, compared to 7% and 6% respectively in January and February.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
