News Formal

More Supply Met With Less Demand in Bay Area Housing Market

  • 📰 nbcbayarea
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Housing inventory in the Bay Area is finally up, but that hasn’t done anything to keep prices down.

"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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 596. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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

Why not

Nigeria Nigeria Latest News, Nigeria Nigeria 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 »