Bay Area real estate market 2024 … maybe

Market News

Trying to predict what will transpire in the 2024 Bay Area real estate market – or anywhere else, for that matter – is a fool’s game, of course. however, real estate analysts do agree that the following might happen:

  • Mortgage rates will continue to fall: As mortgage rates have dipped below 7%, there is hope that they will continue to fall in 2024.
  • Inventory will continue to increase: The California Association of Realtors believes that single-family home sales may increase by up top 23% statewide. The Bay Area may not be so fortunate as San José listings are up, while San Francisco’s are down.
  • Home prices will decrease: Note, we didn’t say “would become affordable” as prices will remain out of reach for many.