The good news for home sellers is that the median price for a single-family home in the Bay Area increased by 12.5 percent year over year in November to $910,350. The bad news for homebuyers, of course, is exactly the same.
Seven of the nine Bay Area counties have severe inventory shortages with less than two months supply.
The Feds recent move to increase rates and speculation that rates will continue to rise in 2018 will only serve to make housing affordability in the Bay Area more of a challenge down the road.
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