After months of inflation and rising mortgage rates, there’s a silver lining for those trying to make it in the Bay.
For the first time in 11 years, the median U.S. home price has fallen year over year. And, in the Bay Area, there are new signs that buyers are taking advantage of lower home prices.
The latest numbers from Zillow shows a spike in monthly mortgage payments have led to a drop both in homes for sale, and new listings, slowing the market.
“Higher mortgage payments that are curbing housing demand, but you also have constraints on the inventory side, inventory is still much lower than it was