Home prices are still on the decline in the Bay Area from the same period a year ago, according to a Redfin report.
In San Francisco, prices have seen the greatest drop nationally, down 15% year over year, or about $1,500 a month in mortgage savings, the report shows.
Oakland was fourth with an 11.6% drop, or about $700 a month in savings, and San Jose was sixth with a decline of 10.6%, or about $960 in monthly savings.
Redfin credits the drop in mortgage rates and decreased housing demand.
“It’s hard to predict, though, because San Francisco is facing a lot of changes,” Daryl Fairweather, chief economist