With two days left in 2016, the preliminary plans for 79 major developments have been submitted to San Francisco’s Planning Department since the beginning of the year. And as we forecast last month, that’s the fewest since 54 in 2012 and down from a peak of 116 in 2014.

At the same time, while the number of new residential units currently under construction in San Francisco is the fewest since the second quarter of 2014, and is running 27 percent lower versus the same time last year, the inventory of new condos on the market in San Francisco has been running an average of 38 percent higher while new condo sales are down 29 percent in 2016 and pricing appears to have dropped around 10 percent since August of last year.