Housing inventory in the Bay Area is finally up, but that hasn’t done anything to keep prices down.
"We're definitely seeing a little bit of a change,” said Tim Yee, president of Re/Max Gold Bay Area. “It's not as robust as it was last year."
With prices up 12% from this time last year, Re/Max says local sales are down 17%, largely because only the very well-heeled can afford to buy what's out there. "The interest rates, the inflation, I think it affects the lower end of the market much more than the middle ends or higher ends of the market,” said Barr.
While predicting real estate prices is a fool's game, people said prices are likely to stay steady for at least a while, unless we see a continued selloff among local tech stocks.
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