Ms. San Francisco Real Estate (Janice Lee)

September Brings an Unseasonal Inventory Increase of 4% There was a rare late-season boost in the number of homes for sale in September: Inventory increased by 4 percent over August and newly listed homes were up 2.1 percent. According to Redfin agents, this bump is because would-be sellers took longer to find homes to buy, which delayed them putting their homes on the market. Will new inventory bring buyers to the market this fall and winter? They’ll be interested but cautious, according to Redfin agent Tom Lewis in Washington, D.C. “New inventory gets people’s attention and gets them excited, but buyers are wary and know that new listings could be gone quickly if there is a lot of interest,” he said. “Many of them are hesitant to step into a multiple-offer situation because they have lost offers on other homes. But if a home sticks around for a few days, then they’ll be more willing to bite.” Declining mortgage rates could create even more demand among buyers,

Sales of previously owned homes climbed in September to the highest level in a year, pointing to growing confidence in the U.S. economy as employment firms. Purchases advanced 2.4 percent to a 5.17 million annual rate, the National Association of Realtors reported today in Washington . Demand was up 1.9 percent compared with the same month last year before adjusting for seasonal patterns. Americans are returning to the real-estate market as employers have added 2 million workers to payrolls so far this year. Sales stand to get an additional boost in the final months of 2014 as the drop in mortgage rates caused by slowing growth in Europe and emerging nations makes properties more affordable for first-time buyers. The decline in borrowing costs “is encouraging for the housing market recovery,” said Brittany Baumann, an economist at Credit Agricole CIB in New York, who projected sales would rise last month. “We see upward trajectory over the next few months, but it’s go

JUST LISTED! 2909 Jennings Street San Francisco Presented Exclusively by Janice Lee 415-832-9151 Top 3% Nationwide Top SF Realtor | #1 CB Sunset JaniceFLee@gmail.com www.JaniceLeeHomes.com BRE #01720205 Gorgeous 5 bedroom 3 bath DETACHED Bayview home