San Francisco's housing development pipeline has decreased slightly to 63,300 units, following proposals for fewer units than previously constructed. With 7,000 units under construction and 11,100 units with issued or requested permits, the pipeline includes 27,400 approved units waiting for permits, featuring significant long-term projects. While proposals for another 17,800 units are under review, sales for new condos dropped over 30% this year, marking the first decline in prices and a slip in rents, indicating a slowing demand in the housing market.
With proposals for another 17,800 units of housing currently under review by the City's Planning Department, San Francisco's Housing Pipeline totals 63,300, down from a record 63,400 in the first quarter.
Sales for new construction condos are down over 30 percent in the first half of 2016, suggesting that, for the first time in years, prices have dropped.
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