San Francisco's Home Prices Decline: Good or Bad News?

Home prices in San Francisco have been declining at a faster rate than in other parts of the state and country, following a record high during the COVID-19 pandemic. Experts say that declining prices on their own aren't necessarily a sign of a San Francisco "doom loop," but rather a reflection of a decline in interest in the city due to its slow pandemic recovery. While declining prices may benefit potential first-time buyers and current homeowners looking to move up, San Francisco remains one of the most unaffordable cities in the country due to rising interest rates and high home prices.