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The Bay Area housing market is flashing a key warning sign

February 10, 2023 /

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Red and white "Home for Sale, Price Reduced" sign in front of a stone, wood house that is for sale. Green grass and bushes indicate the spring or summer season. Front porch and windows in background. Real estate signs in residential neighborhood. Moving house, relocation concepts.

For the first time since early 2012, the average home in the San Francisco metro area is selling for less than its asking price, according to real estate listings site Redfin.

That key benchmark is another indicator of the Bay Area’s shifting housing market, which is at the forefront of the nationwide cooldown.

 

Kellie Hwang, Adriana Rezal


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