San Francisco Real Estate Hit by New Conforming Loan Limits

San Francisco Real EstateSan Francisco Bay Area home prices fell 8.6 percent last month from a year earlier as limits on mortgages backed by the federal government were reduced, DataQuick said today.

The median paid in the nine-county region declined to $350,000 from $383,000 in October 2010, according to the San Diego-based research firm. Prices dropped 4.1 percent from $365,000 in September. The decrease was largely due to the expiration of so-called conforming loan limits on Oct. 1, DataQuick President John Walsh said in a statement.

“This may well be a short-term pause while the market recalibrates changes in loan thresholds,” he said.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

Full Story from Business Week

Click here for gay realtors, mortgage lenders, and other real estate professionals in the San Francisco Bay Area.

If you have a gay real estate story that you’d like to share with us, contact us at info@2016.gayrealtynetwork.com

Leave a Reply

Your email address will not be published. Required fields are marked *