Living
Home Prices Are Starting to Buckle in Tech-Fueled San Francisco
Rising mortgage rates and falling stocks are cooling one of the priciest US cities.
Homes in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
San Francisco, one of the most-expensive US cities for housing, is starting to see prices fall for the first time since the depths of the pandemic.
The median house price in the city dropped 3% from a year earlier to $1.89 million in June, according to a report Thursday by brokerage Compass Inc., after cresting above a record $2 million in the previous three months. The latest price was still 20% above the level in March 2020, when Covid-19 lockdowns began.