Matrix Multifamily San Francisco Report-July 2024 July 30, 2024

San Francisco Slightly Recovers

San Francisco’s advertised rents started their recovery in February and were up 0.5% on a T3 basis through May, outpacing the U.S. figure by 20 bps. Other fundamentals struggled, with construction starts declining 77.7% YoY through May while investments decreased 81.4%, to $160 million.