More Supply Met With Less Demand in Bay Area Housing Market

"We're definitely seeing a little bit of a change,” said Tim Yee, president of Re/Max Gold Bay Area. “It's not as robust as it was last year."

With prices up 12% from this time last year, Re/Max says local sales are down 17%, largely because only the very well-heeled can afford to buy what's out there. "The interest rates, the inflation, I think it affects the lower end of the market much more than the middle ends or higher ends of the market,” said Barr.

While predicting real estate prices is a fool's game, people said prices are likely to stay steady for at least a while, unless we see a continued selloff among local tech stocks.

Let it sit on the market for months. Eventually prices will be dropping

Why not

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Report: SF Bay Area tech company gives pink slips to 150 staffersNetflix is reportedly laying off 150 employees and dozens of contractors as it tries to cut costs after the latest earnings report showed slow revenue growth.
Source: SFGate - 🏆 534. / 51 Read more »