What s next for the Bay Area housing market? Experts weigh in.
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In this file photo, real estate signs are posted in front of homes for sale in San Francisco.Justin Sullivan/Getty Images
At this time in 2020, Bay Area real estate experts were looking at a bright year ahead. The market was continuing its steady growth year after year, in both the housing market and the rental market. But in March, the market ground to a swift halt and an uncertain rest of the year loomed.
Interestingly, and perhaps surprisingly, it ended up being a fairly good year for the Bay Area housing market just in a very different way than many predicted. As buyers sought more space, especially private space, single-family homes in both San Francisco and surrounding suburbs soared in price and demand, while rental averages plummeted and downtown condos languished. We asked Bay Area real estate experts what they foresee for the year ahead.