The Bay Area hit a milestone when it comes to home pricing Thursday that makes it more of a buyer’s market.
The average selling price for a home in the region is actually below the average asking price — something we haven’t seen in more than 10 years.
“Usually there’s a bidding war, and that determines the price. But things have changed,” said Daryl Fairweather, chief economist at Redfin.
The company says one big reason for that is a more flexible tech industry.
“Now that remote work is giving many tech workers the opportunity to live in any part of the country, the Bay Area doesn’t have such a
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