SF Bay Area Home Price Drops

This article says the housing price drops have not been “drastic” in the SF Bay area:

East Bat Times headline: Sellers beginning to make concessions as Bay Area home prices drop
Sub-headline: “The market is absolutely changing.”

By MARISA KENDALL | mkendall@bayareanewsgroup.com
PUBLISHED: August 2, 2022 at 6:05 a.m. | UPDATED: August 3, 2022 at 9:00 a.m.


“For the first time in years, the tables are starting to turn in the Bay Area’s insane housing market — as prices drop, some sellers have been forced to make concessions.

They’re chipping in to help pay closing costs and even to buy points to lower mortgage rates — all to convince increasingly reluctant buyers that the time is right to purchase a home.

“I’m seeing sellers concerned about prices dropping,” said San Jose-based real estate agent Gustavo Gonzalez, who works with both buyers and sellers. While he said recent price drops have not been drastic, sellers are having to reset their expectations of what they can get for their property."