Zillow forecasts Bay Area home prices will drop 5% this year

Home data tracker Zillow is making a bold prediction about the Bay Area housing market. They predict that the region’s home prices are about to fall.

Some sellers are trying to take advantage of the high price market and usually, more people plan to move during the spring season.

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But would-be homebuyers are nervous about the state of the economy, the stock market and mortgage rates rising again back near 7%. Now, Zillow said that combo could lead to a 5% drop in local home prices this year.

Scott Budman has more in the video above.

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