A quarter (24.5%) of San Francisco-area home sellers cut their list prices during the four weeks ending Aug. 16, the highest share since at least 2015, when Redfin began recording this data. That\u2019s more than double the rate from a year earlier, marking the largest annual increase in the share of active listings with price drops among the 50 most populous U.S. metro areas.<\/p>\n
San Francisco\u2019s price-drop rate has held steady at above 24% in late summer, clocking in at 24.1% during the most recent period in our data\u2014the four weeks ending Aug. 23.<\/p><\/blockquote>\n
San Francisco was one of just 11 of the top 50 metros that experienced an increase in the share of listings that cut prices, rising to 24.1% from 11.4% a year earlier. Chicago, Philadelphia and New York were among the 10 other places where the rate of price drops rose from the prior year during the four weeks ending Aug. 23.<\/p><\/blockquote>\n
Will San Francisco recover? Seattle? Portland? Minneapolis? Chicago? New York? Why should they? Grasshoppers need Ants, but Ants don’t need Grasshoppers \u2013 and Ants can live anywhere now.<\/p>\n
Manhattan is easier to get a grip on, perhaps: What made it Fun City was a secondary consequence of everything that made it Gotham City. No more Gotham, no more Fun.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201cGoing down?\u201dIs it bad form to make fun of sea-sick writing? Whatever. Redfin: A quarter (24.5%) of San Francisco-area home sellers cut their list prices during the four weeks ending Aug. 16, the highest share since at least 2015, when Redfin began recording this data. That\u2019s more than double the rate from a year earlier, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,5],"tags":[],"class_list":{"0":"post-16776","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2832,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2832\/redfincom-beats-the-field-again-this-time-in-both-seattle-and-san-francisco-buyers-pay-less-and-reap-commission-rebates-too\/","url_meta":{"origin":16776,"position":0},"title":"Redfin.com beats the field again, this time in both Seattle and San Francisco: Buyers pay less and reap commission rebates, too","author":"Greg Swann","date":"March 25, 2008","format":false,"excerpt":"Redfin.com has news this midnight, but it's the sort of thing I would normally ignore: It's basically the kind of rah-rah-for-us stuff I leave for the vendor cheerleaders and the mainstream media. But: I gave Redfin a lot of grief last year when they made a similar announcement, so today\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17584,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17584\/overnight-news-hey-redfin-is-it-really-catch-a-falling-knife-if-youre-redlining-drastically-to-stave-off-exsanguination\/","url_meta":{"origin":16776,"position":1},"title":"Overnight News: Hey, Redfin: Is it really \u201cCatch a Falling Knife\u201d if you\u2019re redlining drastically to stave off exsanguination?","author":"Greg Swann","date":"December 9, 2020","format":false,"excerpt":"Want me to tell you the secret to being right most of the time? Bet the odds. What will happen is what has happened. Not always, but most of the time. Hard lesson to learn \u2013 particularly when you have billions to burn and a burning need to buck the\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17417,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17417\/overnight-news-hey-redfin-what-happens-when-you-tell-everyone-youre-racist-and-they-believe-you\/","url_meta":{"origin":16776,"position":2},"title":"Overnight News: Hey, Redfin: What happens when you tell everyone you\u2019re racist \u2013 and they believe\u00a0you?","author":"Greg Swann","date":"October 31, 2020","format":false,"excerpt":"Here's the deal: If disparate impact is automatically racism, Asian and Jewish people should be suing pro-athletics. That's what Glenn Kelman needs to say to swat the race pirates away. Financial hurdles seek to qualify Ants and disqualify Grasshoppers. This has nothing to do with race, but every financial hurdle\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1671,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1671\/redfin-cops-another-12-million-raising-investors-stake-in-the-discount-realtybot-to-40000-per-closed-transaction\/","url_meta":{"origin":16776,"position":3},"title":"Redfin cops another $12 million, raising investors’ stake in the discount realty.bot to $40,000 per closed transaction","author":"Greg Swann","date":"July 17, 2007","format":false,"excerpt":"The indefatigable John Cook:Redfin has raised an additional $12 million in venture funding, money that the Seattle discount real estate broker will use to enhance its Web site and expand into new markets. First up for Redfin are the Washington D.C and Baltimore areas, which are being unveiled today. Next\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1007,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1007\/glenn-kelman-on-redfincoms-move-into-southern-california-ive-never-had-to-think-so-hard-in-an-interview-in-my-life\/","url_meta":{"origin":16776,"position":4},"title":"Glenn Kelman on Redfin.com’s move into Southern California: “I’ve never had to think so hard in an interview in my life”","author":"Greg Swann","date":"February 8, 2007","format":false,"excerpt":"Here's the newspaper news, and we'll come back to it in due course: Redfin.com today opens three new offices in Southern California: Los Angeles, Orange County and San Diego. The company has expanded its web site to include listings from nine Southern California MLS systems. Here's the real news, which\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3345,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3345\/estatelycom-is-now-the-san-francisco-treat\/","url_meta":{"origin":16776,"position":5},"title":"Estately.com is now the San Francisco treat","author":"Greg Swann","date":"July 10, 2008","format":false,"excerpt":"Map-based web search start-up Estately.com has uncanny timing for launching new cities and services. No matter what dates they pick, it seems that either Zillow or Redfin will have news on those days. Here's the news, which I sat on to get Estately out of Zillow's glare:Estately.com is expanding into\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=16776"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16776\/revisions"}],"predecessor-version":[{"id":16778,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/16776\/revisions\/16778"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=16776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=16776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=16776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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