More houses are selling in the Bay Area, but prices for those homes are still near record highs.
Buyers are buying and for sale signs are coming down.
"Recently had one that was on for over 100 days, then three offers on that property. That was yesterday," said realtor Holly Barr.
But there's still not a whole lot of homes to choose from. RE/MAX says that's why prices are still high.
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"And there's still a pent-up demand, there's still a lack of inventory," said broker Tim Lee. "We're still seeing across the Bay Area, homes that priced right are selling at 100%, or 101, 103% of asking."
According to Redfin, only 3 or 4% of people in the Bay Area can afford the average new home compared to 16% across the country.
"Let's just say that we've kind of semi given up," Yan Zhang said.
Zhang and his family are less than hopeful about landing a new home soon.
"The way we're looking is just like, 'Wow, we might get really lucky,' but we're really depending on luck at this point," he said.
As for next year, real estate agents said they expect mortgage rates to continue to drop, but they said until more inventory hits the market, home prices will probably stay high.
