Home prices are still on the decline in the Bay Area from the same period a year ago, with San Francisco showing the greatest drop nationally at 15%, according to a Redfin report.
In San Francisco, prices have seen the greatest drop nationally, down 15% year over year, or about $1,500 a month in mortgage savings, the report shows.
Oakland was fourth with an 11.6% drop, or about $700 a month in savings, and San Jose was sixth with a decline of 10.6%, or about $960 in monthly savings.Get a weekly recap of the latest San Francisco Bay Area housing news."It’s hard to predict, though, because San Francisco is facing a lot of changes," Daryl Fairweather, chief economist with Redfin, said."There's no longer this strong pull of workers to the area to get a tech job. You can get a tech job just about anywhere.
The Bay Area, however, remains one of the most expensive markets for homes in the U.S., with median monthly payments of $8,496 in San Francisco, $8,116 in San Jose and $5,443 in Oakland.
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