SF's housing market has shown a marked decline over the past year.

According to real estate brokerage ReMax, SF had one of the largest home sales declines in the country over the past year, with a 29.11 TP3T decline between June 2021 and June 2022. Miami, Florida, ranked first in the nation with a 351 TP3T decline, followed by San Diego, California with a 33.11 TP3T decline.

Tim Lee, president of Remax Goldbay, said the declining number of home sales and the increasing number of properties on the market is a golden opportunity for homebuyers. He said sellers have become more realistic, buyers have become fewer, and there are fewer overseas buyers, so home prices have stabilized considerably.

Home prices in SF have gone up $12.61 TP3T in the past year, and the median home price is close to $1.3 million, but it’s still a good opportunity for buyers with some cash on hand. Tim Lee said buyers these days are more creative in their deals, because it’s rare to find someone willing to pay cash for a home.

<Kim Kyung-seop reporter> 

Original link: http://www.koreatimes.com/article/1425695