Bay Area pending home sales fall by double digits

Offers exceed asking prices despite a decline in sales activity
  • Despite month-over-month declines, pending sales volume in the Bay Area is up noticeably from late 2014.
  • Month-over-month closed sales activity has decreased by double digits in nearly all Bay Area counties.
  • Distressed sales account for a minimal amount of transactions in San Mateo and San Francisco counties.

According to the California Association of Realtors (CAR), during November the number of pending sales, transactions likely to close in the next month or two, fell by nearly 12 percent month-over-month in the region. While month-to-month activity continues to decline, the volume of November pending sales did equate to a 17.7 percent rise in activity when compared to November 2014.