The high-flying residential real estate market is losing steam around the Bay Area, reports Richard Scheinin of the Bay Area News Group.
He digs into the latest report from PropertyRadar information service. Scheinin writes:
Looking at the first nine months of 2016, the report shows a 10.3% year-over-year decline in sales across the region. Broken down by county, the number of single-family homes and condominiums sold fell by 11.3% in Alameda County, 10.1% in Santa Clara County, 9.1% in San Mateo County, and 8.2% in Contra Costa County. And in San Francisco, sales tumbled 13%.
PropertyRadar predicts continued sluggish sales.