In August and September, home prices declined by 1.2% according to the S&P CoreLogic Case-Shiller Home Price Index in all major metropolitan markets. In certain cities, like Los Angeles, New York and San Francisco, the prices declined even more, namely 1.5% on average. The Western United States took the largest hits with San Francisco falling 2.2%, Las Vegas and Phoenix falling 2.1% and Los Angeles falling 1.7%. According to Forbes.com, Adams states, “the economy is positioned to be more resilient” into the next year. Comerica thinks that tech cities such as San Francisco’s home market will continue to decline the most.

Source: Forbes December 03, 2022 06:42 UTC