A drop in housing prices by about 7% translates to more than a $100,000 in savings on a typical Bay Area home. But a rise in mortgage rates to about 7% all but erases that savings. Here's more.
Housing prices are coming down in the Bay Area and are expected to keep coming down -- next year. The California Association of Realtors is predicting home prices here will drop about 9% more -- in 2023 and they also expect sales to slow as the market cools. NBC Bay Area's Raj Mathai spoke to Gea Carr, of Coldwell Banker Realty, for some insight.
"If I do well in my job, I can save up and eventually buy a house," San Jose resident Julien Chairez said."But in this economy, and in this market in this area, I still don't think it's possible."In San Jose, fewer than 40% of homes that sold went for above asking price last month -- at this time last year the number was 70%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Swamp gas’ overtakes tiny Bay Area townUnfortunately, 'Sugar Town' is not smelling so sweet.
Read more »
CA man sentenced in scheme to smuggle meth and Viagra to the Bay AreaWilliam Riedy was sentenced to 54 months in federal prison after pleading guilty to a meth distribution charge.
Read more »
California man sentenced in scheme to smuggle meth and Viagra to the Bay AreaWilliam Riedy was sentenced to 54 months in federal prison after pleading guilty to a meth distribution charge.
Read more »
Bay Area Latina women sharing their 'selfless devotion' to heirloom beansBEANING WITH PRIDE: A business in Napa seems to have cornered the bean market with their flavorful heirloom beans, operated mainly by Latinas, who are packaging each bag with love.
Read more »
Bay Area high school football roundup: Best of Week 8 actionAntioch, Monte Vista upset ranked opponents. Sacred Heart Cathedral wins Bruce-Mahoney game. Westmont improves to 7-0.
Read more »
Photos: Bay Area high school football Week 8, 2022Live Oak at Santa Teresa, Acalanes at Campolindo, Archibishop Mitty at Bellarmine, Clayton Valley at San Ramon Valley
Read more »