Well, I think that it has finally happened in San Francisco. The San Francisco market is following suit with the trend affecting many other parts of California.
I'm definitely seeing properties sitting on the market for longer periods of time. Moreover, I'm seeing properties experience price reductions. These are the same properties that would have quickly sold over the asking price last year.
There's a growing sense that buyers are sitting back and waiting things out. Buyers can be more finicky than ever. I've been able to get my buyer clients into great properties well under the asking price. Last year, that was a difficult task. But not so anymore. Plus, the summer malaise will probably help continue this trend...
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