{"id":588,"date":"2021-02-18T14:11:55","date_gmt":"2021-02-18T14:11:55","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=588"},"modified":"2023-03-10T08:13:27","modified_gmt":"2023-03-10T08:13:27","slug":"san-francisco-housing-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-francisco-housing-market-trends-winter-2021\/","title":{"rendered":"San Francisco Housing Market Trends – Winter 2021"},"content":{"rendered":"

Rent Drops Linger, Market Seeks Balance<\/strong><\/h2>\n

San Francisco\u2019s rental market took quite a hit in 2020<\/strong> amid the ongoing health crisis, with the average rent down 1.1% on a trailing three-month basis, and 9.4% for the whole year. With residents moving away from high-density metros such as San Francisco, New York and LA, rent growth is overperforming in smaller nearby markets including Sacramento<\/strong> <\/a>and the Inland Empire<\/strong><\/a>.<\/p>\n

It\u2019s not all doom and gloom for the Bay Area, though. California\u2019s economy continued to dig itself out of the hole that the health crisis dug in March and April, with unemployment dropping to 8.1% as of November. Meanwhile, San Francisco\u2019s financial activities sector recorded gains, adding 1,900 positions in the 12 months ending in November. Although severely hit, trade transportation and utilities and construction may have better days in sight, with the new administration\u2019s plan to inject capital into infrastructure projects likely to yield a rebound for these sectors.<\/p>\n

Multifamily sales slowed considerably in 2020, totaling less than half the volume recorded in 2019, as uncertainty put investors off for most of the year\u2019s first half. Meanwhile, development powered through, and 23,247 rental units were underway at the end of last year, with deliveries likely to continue at a steady pace. We expect rent loss to be curbed this year, at -1.7% for all of 2021.<\/p>\n

Read the full Matrix Multifamily San Francisco Report-Winter 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Rent Drops Linger, Market Seeks Balance San Francisco\u2019s rental market took quite a hit in 2020 amid the ongoing health crisis, with the average rent down 1.1% on a trailing three-month basis, and 9.4% for the whole year. With residents moving away from high-density metros such as San Francisco, New York and LA, rent growth […]<\/p>\n","protected":false},"author":650,"featured_media":589,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,430],"class_list":["post-588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-san-francisco"],"yoast_head":"\nSan Francisco Housing Market Trends - Winter 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/san-francisco-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Francisco Housing Market Trends - Winter 2021\" \/>\n<meta property=\"og:description\" content=\"Rent Drops Linger, Market Seeks Balance San Francisco\u2019s rental market took quite a hit in 2020 amid the ongoing health crisis, with the average rent down 1.1% on a trailing three-month basis, and 9.4% for the whole year. 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