San Francisco Real Estate - Residential

Realtors expect home prices to fall

A recent article in Market Watch, a newsletter published by Dow Jones, it was reported that the NAR (National Association of Realtors) is saying that home prices will probably fall temporarily as the market corrects, but predicts that prices will bounce higher again in a few months. This is contrary to what Forbes and Templeton forecast for the real estate market, both sources predicting a gloom and doom scenario.

In San Francisco, we are seeing a lot of activity in the fall market and prices continue to hold steady, particularly in the higher end homes. However, it is taking longer to sell properties and has shifted to a buyers market. As listings sit on the shelf longer, it makes it easier for them to negotiate. There are still multiple offer situations, but today that is the exception rather than the rule.

- Mick Orton

posted by SFResidence.com @ 1:41 AM