Bay Area housing market cooling off, but prices still expected to rise in 2019

By Chris Nguyen : abcnews – excerpt

In the Bay Area, homes are taking longer to sell and aren’t getting as much money as they did just a few months ago. After years on the up, the red-hot housing market appears to be cooling off.

“This is a more normal market and I hope it stays like this,” said Gustavo Gonzalez, president-elect of the Santa Clara County Association of Realtors. “People are still coming to this area and they’re still working here and they’re making good money and they want homes, so there’s a limited supply (and) lots of demand.”… (more)

Could some of the tax and legislative changes, raising interest rates, and the switch to temporary housing noted elsewhere be responsible for a cooling housing market? One new threat to foreign investors could be threats to the H1-B visas that the administration is threatening to pull.

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