A recent piece in Marina Times by reporter Garey De Martini highlights the rollercoaster of the 10 U.S. housing markets. He writes about a recent study published, in which it was found that five of those ten markets have cooled faster than others this year: San Francisco, San Jose, Oakland, Sacramento and Stockton. The U.S. West, it would seem, is the market most affected by cooling.
‘In a mid-July report published by the San Francisco Business Times, Ashley Fahey writes that there are a number of reasons for this, none of which can be equally applied to every metro area on the West Coast,” writes De Martini. “Citing Redfin as her source, she says an exodus out of California is certainly one factor impacting the cities and metro areas. Higher mortgage rates seem to be affecting pricier markets as well.”