These charts show Bay Area real estate is finally ‘normalizing.' Here's what comes next

The home buying frenzy is finally showing signs of cooling in the Bay Area. Are the days of homes going for $1 million over asking price after just...

July 2, 2022
12:10 PM

The home buying frenzy is finally showing signs of cooling in the Bay Area. Are the days of homes going for $1 million over asking price after just days on the market coming to an end? Mortgage rates have shot up since the beginning of the year following a honeymoon period of record low rates through the pandemic. Data now points to what most industry experts had anticipated for months: While home buyer demand is still strong in the Bay Area compared to elsewhere - and inventory still scarce, the Bay Area housing market is 'normalizing' and seeing less intense competition.

Kellie Hwang