Cooling SF housing market?

“Unfortunately, a plateauing, or even slight decline, can feed on itself as those shopping for a home step back from the market in anticipation of lower home prices later.”

The article seems to suggest that the cooling is limited to the luxury market at the moment, but may potentially spread to the broader housing market if the economy cools further (i.e. with the lowering apartment rent projections). Those of you with more real estate experience and those in the trenches, what do you guys think will happen in the next 6 months?

The luxury end of at least the SF market is so far out: more than 2M, it’s already out of reach for even families making 400K a year. The lower end, those less than 1.5M, I see still going very strong. I think for the next 12 months at least, the lower end will continue to be hot.

If you have a 2M budget, your day has come. Lots to pick from.

Amazingly there are still bargains over $2m…especially in Emerald Hills…better prices per sf than small houses in less desirable areas…

I went to that steep driveway house in Emerald Hills based on you guys recommendation (to check out that area since I’ve never been there).

Because there’s only 2 roads going inwards, between the traffic lights and turns, from 101 exit it takes 15-20+ mins on a saturday (little traffic) to get there. I imagine it will be worst on a weekday.

Anyone lives there can comment? How do you like living there?

I love Emerald hills. But Springdale is an inconvenience. .Better to be up top nearer 280…Like Colton ct.
If you work near 280 EH is very convenient to SF, PA or SJ…working near 101 you will have lots of traffic no matter where you live

My lil sis lives off Farm Hill. She likes it but as @Elt1 mentioned the increased traffic especially as you get closer to El Camino is driving her crazy enough to consider moving. Nice homes and very quiet and peaceful at night up there. Any homes near her have sold briskly and over asking.

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Honestly, are we actually seeing this (with real lower closing prices)??? I say NO!!!

Are you going to bash SF condos again @sfdragonboy ?

If I don’t, who will??? There is a fair amount of inventory either there or about to be built. I ain’t got a problem if the supply is absorbed by the demand. Why should I care if some idiot wants to buy an apartment and pay a ridiculous monthly hoa for a pool? The concern is just the overbuilding of them!!!

There will never be “overbuilding” in SF. Let’s get real.

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Sure there is, there is the “overbuilding” of the homeless rank in the Fab 7x7!!!

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Hey! Everybody is entitled to enjoy the benefits of the high tech industry. The homeless come to enjoy seeing the Google buses driving by. Can’t blame them. :innocent:

Glance through the article cursory. Has sale volume declined or just the median price? What is the mix of condos vs SFHs? Given the high profile awareness by sfdragonboy, it seems there are many condos for sale in 7x7 which I presume is lower priced than SFHs, hence the median price should decline if more condos are sold. So, nothing to see here?
If it is genuine decline then millennials should be celebrating!

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This statistic is not very useful for SF and SMC since many single family houses have a jumbo mortgage. What percentage of purchases are financed with a loan under 636k?

“The FHFA index may leave out a large portion of buyers in the region. It only measures purchases financed with conforming loans, which in the San Francisco Bay area are capped at $636,150, well below the median price of more than $1 million.”

Number one condo to trash is the Millennial Tower…lol…Could become the most iconic building in SF…I remember the Transamerica pyramid trashing…Probably the dumbest building ever conceived with the smaller high rent floor areas as you went up…Stupid architect and builder…Now an iconic treasure