The lack of housing inventory in the San Francisco Bay Area was the biggest real estate surprise of 2014 according to an unofficial survey conducted by the San Francisco Chronicle.
For example, one agent pointed out that in Marin County there is typically a 4.5 month supply of inventory. In 2014, the high was 2.3 months in May and again in September meaning that, at best, inventory as at half of the normal amount.
Of course, low inventory means that many buyers are competing for the same houses, which only drives prices up, leaving many would-be home owners out in the cold.
many experts predict that low inventory will continue to plague the Bay Area in 2015.