Will home prices drop in 2022 Bay Area?
On a regional basis, the steepest drop has occurred in the volatile Bay Area, with San Francisco home prices down a chilling 4.3% from the May 2022 peak, as of July 2022. At the national level, home values slipped by 0.3% in July 2022, according to Zillow.
Will CA housing prices drop in 2022?
California Housing Forecast
C.A.R.’s “2022 California Housing Market Forecast” predicted a 5.2% decline in existing single-family home sales to 416,800 units, down from the projected 2021 sales estimate of 439,800 units. Their forecast for California median home prices was for a rise of 5.2% to $834,400 in 2022.
Are real estate prices dropping in San Francisco?
Brokerages show values falling 7% in the past year as higher mortgage rates and work-from-home issues crush demand.