SAN FRANCISCO -- The pendulum is shifting in what many have described as a"roller coaster" real estate market. Sellers are no longer in the driver's seat and buyers have an edge.
"It's not like buyers are winning here. They're paying a lot more for the privilege of borrowing," she said."By some metrics, you could say that we're in more of a buyer's market than we were earlier this year. Buyers are facing less competition, homes are taking longer to sell and homes are selling for below their list price.
With the exception of the initial three-month lockdown in 2020, home sales in October were at the lowest level since February of 2008, according to the latest data from the California Association of Realtors. The median sale price of single-family homes in seven of nine Bay Area counties in October was lower this year than it was last year, according to the data.
On an individual level, Yang hopes he gets the right offer. Big-picture, he'd like to see interest rates go down.