• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

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.

Trading Tips for All Levels: Avoid These 5 Expensive Mistakes

Don't let costly errors derail your trading success. Learn about the five most expensive mistakes in options trading and how to avoid them, whether you're just starting out or have years of experience. Enhance your trading strategy today and stay ahead of the game!

Learn More

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.


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.

Follow These Steps Once Your Portfolio Reaches $150K

If you've amassed a $150k+ portfolio, it's time to meet with a trusted advisor. Zoe Financial helps you connect with fiduciary advisors to grow your wealth. Find, hire, and invest with vetted financial advisors tailored to your unique situation.

With Zoe Financial, find your top 3 advisor matches, book a free initial consultation, and pick your favorite advisor.

Get Started

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.


This 2 Minute Move Could Knock $500/Year off Your Car Insurance in 2024

Saving money on car insurance with BestMoney is a simple way to reduce your expenses. You’ll often get the same, or even better, insurance for less than what you’re paying right now.

There’s no reason not to at least try this free service. Check out BestMoney today, and take a turn in the right direction.

Lauren Bird Staff Reporter

Lauren Bird was a former reporter for Moneywise.com. Before writing about personal finance Lauren reported and produced for CBC and BBC Radio. Her work has also appeared in The Atlantic.


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.