Some people need to see statistics to believe what they see every day. Here is more proof that the Bay area has economically collapsed. As people leave, the values of homes goes down. Also, watch as tax revenue continue to decline as the cost of government increases.
“The SF-Oakland-Hayward market saw a 6.10% decrease in value, with median home sale prices dropping from $1,310,000 in Q4 of 2021 to $1,230,000 in Q4 of 2022, the report said. The San Jose-Sunnyvale-Santa Clara market saw a 5.8% decline over the same time period, with media prices going from $1,675,000 to $1,577,000.
The report cites people leaving the SF Bay Area during the pandemic, traffic, and companies offering remote work as reasons for the drop in real estate values.
A recent report from Redfin also indicated that home sale prices had recently declined in some Bay Area markets. Over the past four weeks, home-sale prices in San Francisco fell 8.7%, while prices in Oakland dropped 11.9%.”
At what point will the Democrats admit they destroyed the totally Democrat run Bay Area? Never. They will blame Trump. What a joke.
Bay Area real estate value is fastest dropping in the nation, report says
by: Alex Baker, KRON, 6/8/23 e vhttps://www.kron4.com/news/bay-area/bay-area-real-estate-value-is-fastest-dropping-in-the-nation-report-says/alues across much of the Bay Area are the fastest dropping in the nation, according to a recent . The report, released late last month, identified the San Francisco-Oakland-Hayward market and San Jose-Sunnyvale-Santa Clara market as the no. 1 and no. 2 fastest dropping markets in the country in terms of real estate values over the past year.
The study compared median home prices for single-family homes between the fourth quarter of 2021 and the fourth quarter of 2022.
The SF-Oakland-Hayward market saw a 6.10% decrease in value, with median home sale prices dropping from $1,310,000 in Q4 of 2021 to $1,230,000 in Q4 of 2022, the report said. The San Jose-Sunnyvale-Santa Clara market saw a 5.8% decline over the same time period, with media prices going from $1,675,000 to $1,577,000.
The report cites people leaving the SF Bay Area during the pandemic, traffic, and companies offering remote work as reasons for the drop in real estate values.
A recent report from Redfin also indicated that home sale prices had recently declined in some Bay Area markets. Over the past four weeks, home-sale prices in San Francisco fell 8.7%, while prices in Oakland dropped 11.9%.
Markets that saw the fastest growing real estate values over the past year include Farmington, New Mexico and the North Port-Sarasota-Bradenton, Florida area, according to RealEstateAgents.com.
