The California Association of Realtors reported that home sales in the San Francisco Bay Area decreased in January by 5.8 percent from a year ago. Home sales in the six of the nine Bay Area counties decreased with Napa, Solano and Contra Costa counties declining by more than 10 percent.
Home prices continued to increase in the Bay Area but at a much more modest pace. On a year-over-year basis the median home price in the Bay Area increased by 4.5 percent over January 2018.
Most analysts saw these changes as a “rebalancing of the market” as part of the cyclical nature of real estate.