Regional Spotlight: High Mortgage Rates Are Changing the Bay Area Housing Market in Two Key Ways
(TNS)—As rising mortgage rates curtail many homebuyers’ spending power, home price growth in the Bay Area has slowed, fewer homes are selling above listing price and more sellers are asking for less. The trends bearing out in the months since average mortgage rates more than doubled—to nearly 7%—contrast the region’s red-hot housing market of 2021,…
