"Even though the number of views online has been consistent with the beginning of the year, buyers' willingness to pull the trigger and write offers has changed significantly."
"Agents say a number of buyers hit pause on their search in April, when Trump announced a bevy of tariffs on foreign goods."
The Bay Area housing market is experiencing a sluggish spring season amid high interest rates and economic uncertainty due to President Trump's trade tariffs. Despite a generally strong market, existing home sales dropped by 8.2% in May compared to last year. Many potential buyers paused their searches, contributing to increased inventory levels—a 53% rise from the previous year. Although the median sales price remains relatively stable at $1.4 million, there is a noticeable decline in buyer activity and confidence.
Read at www.mercurynews.com
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