San Francisco Home Prices, Market Conditions & Trends January 2026

In 2025, Bay Area real estate markets started the year seeing strong buyer demand, but had the wind taken out of their sails by the political/economic uncertainty that soared in early spring. Then, in mid- late summer, stock markets rebounded to hit new highs, and interest rates began a sustained decline, initiating a shift in the psychology of buyers and sellers that is still developing.