Bay Area housing prices still high despite more inventory hitting the market

After years of low inventory, more houses are suddenly being put on the market in the Bay Area. Scott Budman reports.

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[mrsleep]

Importing 2-3 million people a year while building ~900k homes a year is going to keep prices high and rising.

[joeyjoey]

I live in Oakland and it boggles me how ridiculously expensive a shithole cost. $1m and it’s literally the ghetto. And somehow those property taxes aren’t enough for some basic police work??

[peterbedford]

The news. More = anything greater than yesterday.

[jeraldb]

Never would I have ever imagined SF being cheaper than SJ 😂

[SpencerHsu]

More inventory is normal in the Spring time. But also a lot more buyers are in the market. Just go to any open house and you will see yourself.

[ja]

Home inventory may go up after July when NAR rules change where all home sellers are not forced to include 2.5% on commission to the buyer's agent.

[audenharper]

why would she put her house up for sale if she didn't want to sell it?

[Pele-speak]

Inventory increase has to be new homes or desperate sales. If someone is selling, they're gonna buy another so they have to sell high enough to buy another that is also high

[paulreynolds]

With the FEDs having raised interest rates to 5.25%, why does it seem that monetary policy is still too loose as to have prices everywhere still going up and up. It's really mystifying! We probably need much higer rates.

[KevonialJemonathoy]

Record highs but the dollar is weaker than ever. $800k isn’t worth $800k anymore.

[chuckxu]

I rather live in North Pole than east Oakland

[deb]

Greedy people won't stop being greedy.

[BuhodePiedra]

Already was heavily weighted to the seller’s. Now they have all the leverage. This new ruling will not be good for buyers. 10-20 offers per Home! Nobody wants to work for you for free. That’s a lot of buyer’s agents.

[ryder]

Boomer Kim Potter giddy with her home value while so many others can barely make the rent.

[MikieGoodwin-nw]

Anyone else starting to notice how the bs of not enough inventory, and minimum wage increases starting to ring super false. The whole pandemic kinda just exposed yalls greed to a while bother level.

[ccxfrank]

Once prices go up, they stay up. Once your minimum wage goes up... everything goes up. Up up up

[oldtwinsna]

People are living longer and working to an older age, thus the are staying put in the same place longer. Meanwhile, floods of new people entering the workforce are coming in every year and some of them being paid quite well, so they are adding to the demand.

[SC-peir]

It's bc of inflation. The dollar just doesn't buy as much anymore. Look at grocery prices

[Koushi]

We already said unless you price houses at 1/3 median income then you will go bankrupt as a builder anything above that go find Wall Street to buy it

Instead of asking public to be suckers

[Mkvkuv]

please keep buying at 7%+ interest rate 😁