Overview
- Homes are selling at the fastest clip in the country, with San Jose at 19 days and San Francisco at 21 days to go under contract, while Oakland averages 28 days versus 50 days nationally.
- Redfin points to AI-driven pay increases and signing bonuses drawing young tech workers back into the market near urban job hubs.
- Active listings declined in San Francisco and San Jose last month, tightening supply as more buyers compete for fewer homes.
- Mortgage rates near 6.2%, down from almost 7% earlier this year, have encouraged additional buyers by slightly improving affordability.
- Median prices remain about $1.5 million in San Francisco and San Jose, with slight year-over-year declines in San Francisco and Oakland and a 6.9% gain in San Jose.