agree rents are dropping (south bay too). We are seeing a fair bit of turnover (eventho’ we had rents slightly below market). I am moving to 2 year contracts and switching some stuff over to property management firm as the turnover rate is too high for me to focus on my job, family and still self manage
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I like how bay area is special snowflake, but occasionally gets compared to national averages.
If you wanna compare to national average, bay area has a lot more to drop 
This slowdown is rather exceptional for bay area. Period. Dont try to compare it national average.
I think it’s a just slowdown and a correction due to affordability, it’s not a crash by any means.
SF stats is much better than SCC. Something is wrong in the South Bay which we don’t know yet. Is hiring slowed without us knowing?
Not as far as i can tell from my side of the world
Maybe H1B has a huge impact in South Bay. Many H1Bs might have slowed their purchase.
How is it exceptional? What data is exceptional?
From my own experience sales are slow because sellers are not willing to take low offers and buyers are hoping they would. Next week after the elections people will move more decisively in my opinion.
Prop 10 passes and prices drop 10%
At least that’s what buyers are praying for.
That means rents will shoot up. So some sellers may pull homes out of market and rent them instead??
More rentals mean lower rent. How will rent shoot up?
Uncertain. But it is definitely uncertainty that is hurting the market. Will have wait till February to see how much damage. But sales have slowed this fall.
Ask @Rent_and_Vent … Is he going to buy in February?
I may buy, but not here! If I buy in our school district I would have to take a big cut in lifestyle… I’ll keep renting my way to a good life in the Bay Area, maybe buy some RE elsewhere. After some good amount of research and because of some family connections, we are leaning towards NC: one house in the Raleigh-Durham-Chapel Hill area and a beach condo on Emerald Isle/Wilmington/Myrtle BEach SC area… Just got hit by a hurricane and did very well… a couple of hours away from each other, great area, still affordable, growing fast.
oh, and you can buy a nice house and a beach condo cash for the price of a 2 bedroom in SF
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I get it. But there are plenty of affordable areas in California. NC has hot humid summers,hurricanes, cold winters and lots of rain.
Average temp in January. 10 degrees lower than SF
I am here for work. We have no other reason to stay in California. NC is good (lived there for 5 years, love it). Weather is OK, and you can swim in the ocean!!! No poop and needles. And 3 hours closer to Europe to see family
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Interesting. Keep us posted!
Too bad you haven’t enjoyed CA. Skiing surfing fishing
Napa Tahoe Yosemite. Experience it all before you leave
I am enjoying it! don’t get me wrong… we love it here too… just not our “forever” home
we will be here for 6 more years (until our kids are out of the house). We have promised them no more moves until then. they need stability now.
Crab season starts Saturday. Take your kids crab and rock fishing on a charter. The best time of year to be out on the ocean. I will be in Aptos for a beach party
Apple’s next campus is in NC I believe…
sounds great, thanks! I grew up on the ocean in northern Spain, I love everything about the water. Been out on whale tours, etc, go to half moon bay often with the family