in our free newsletter.

Thousands benefit from our email every week.

San Francisco

Home values in San Francisco dropped a staggering 3.4% from July to August.

With a population of just over 800,000, the tech hub is still one of the most expensive markets in the country, but it’s starting to slow down.

House sales plummeted, down 24% year over year in August and prices dropped 11.6%, according to the California Association of Realtors. The decline in sales coincides with rising interest rates. Redfin says San Francisco’s market is still “somewhat” competitive. The median sale price is $1.3 million but sales are down nearly 12% year over year, says Redfin.

Fine wine is a sweet comfort in any situation — and now it can make your investment portfolio a little more comfortable, too. Now a platform called Vinovest helps everyday buyers invest in fine wines — no sommelier certification required.

Invest Now

Los Angeles

Los Angeles, the second most populous city in the country, kept pace with San Francisco for falling values, dropping 3.4% month to month.

While prices are going up, the number of sales is falling. Sales fell a whopping 29% in August from the same time last year, but the median sold price rose slightly year over year and even from July to August says the California Association of Realtors.

The median sale price in the city is about $1 million, according to Redfin. Realtor.com says Los Angeles is still a seller’s market, with demand still outpacing supply.

Sacramento

California’s state capital rounded out the top three biggest dips from July to August, down 3.2%, according to Zillow. With a population of about half a million, the housing market has been tight in Sacramento over the past couple of years, though things are starting to slow. While sales were up 6.6% month to month, prices actually fell 2.7% from July to August, according to the California Association of Realtors.

But the city is still considered a seller's market by both Redfin and Realtor.com.

Fine wine is a sweet comfort in any situation — and now it can make your investment portfolio a little more comfortable, too. Now a platform called Vinovest helps everyday buyers invest in fine wines — no sommelier certification required.

Invest Now

Salt Lake City

Salt Lake City is another city that got a supercharge to its housing market during the pandemic.

Its population is about 200,000 but it’s been growing steadily, putting pressure on the housing market. But values have started falling. From July to August home values dropped 2.6%, according to Zillow.

While closed sales in Salt Lake County were down 26% year over year in August, the median sale price climbed more than 10% over the same period, according to the Utah Association of Realtors. The median listed price is about $575,000. Still, houses typically spend 20 days on the market and most get multiple offers, according to Redfin.

Get a piece of commercial real estate

Enhance your portfolio with high-return commercial real estate

First National Realty Partners is the #1 option for accredited investors seeking superior risk-adjusted returns in the grocery-anchored necessity-based retail space.

While commercial real estate has always been reserved for a few elite investors, outperforming the S&P 500 over a 25-year period, First National Realty Partners allows you to access institutional-quality commercial real estate investments — without the leg work of finding deals yourself.

Invest with First National Realty Partners now.

What to Read Next

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.