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Bay Area housing forecast 2023

December 8, 2022 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate Market News

The California Association of Realtors estimates that the median price of California home will drop 8.8 percent to $758,600 in 2023. Both Zillow and Corelogic expect San Francisco pirces to drop approximately 3.6 percent next year. This would be the largest drop of the top 20 metro areas in the country.

Inventory is expected to remain low as home-buyers are reluctant to put their homes on the market dues to the uncertain economy, inflation, and the sizable loss of tech jobs in the Bay Area.

Most analysts see declining prices as a necessary adjustment to the overheated Bay Area market and not the sings of an impending crash.

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Filed Under: Real Estate Tagged With: 2023 houasing forecasr

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“I’ve been in this industry for over 20 years. I have seen both fantastic and just “ok” escrow officers. The Escrow Officer and her team are typically the last stop for a borrower during the purchase or refinance transaction. You want that person and team to be personable, professional and helpful to your client. Kathy and her team at Green Escrow has surpassed my expectations. The team has gone the extra mile to ensure my file closed on time and without incident. I’m looking forward to continued success with Green Escrow.””
by Adina Erridge, Bay Equities Home Loans

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