Housing prices are still well above the national average in the Bay Area, but some relief at least, has emerged in recent months.
"For the fourth consecutive month, rents have fallen around the Bay Area," reports Rickard Sheinin. That information comes from a new report by the Axiometrics research firm, finding reduced rents from San Jose to San Francisco and Oakland.
The article includes details on rents in the San Jose-Sunnyvale-Santa Clara metro area, the San Francisco-Redwood City-South San Francisco metro area, and the Oakland-Hayward-Berkeley metro area. Oakland is the most recent local market to see declining rents. Until the past few months, according to Scheinin, Oakland's rents continued to increase while other local markets had begun to decrease.
Sheinin quotes Ron Stern, CEO of Bay Rentals, a housing relocation service, in the article. Stern claims landlords are starting to get nervous about rental units remaining vacant.
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