the report from redfin shows the median price of a home for sale in san francisco and much of the bay area has dropped significantly since last month, along with a drop-off in sales. robert handa looks behind the numbers to see if the drop actually helps buyers and what they're getting for their money. >> reporter: it's always risky to try to analyze san francisco as well as the bay area housing market, especially compared to the rest of the country. a drop in price doesn't always mean a low price, and a high price doesn't always mean your money's worth. a median price of almost $1.5 million for a san francisco home tells you right away the cost for a home might be dropping, but certainly won't be cheap any time soon. in its latest report, real estate analyst redfin shows the san francisco median price is $1.488 million, a decline of more than 5% from november to december. now, in san francisco, there are a lot of factors in play. this two-bedroom home for sale is listed almost right at the median level. but when i told a neighbor, he said no way. >> it's too expensive. >> you don't t

taylor morris, the deputy chief economist at redfin. he says that the shift from expensive coastal metro areas to more affordable locations has been going on for a while. but the pandemic really heated up the real estate market. he says it has stayed hot because it takes time for home buyers to figure things out. but a lot of families. >> maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote, friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening looking forward. more is reluctant to make any predictions but believes the trend will continue because working from home. >> has become more widely accepted their stuff. >> permit critical juncture, a more flexible work dispersed workforce is even within large companies. and so i think there's a lot of technology adoption that happened during the p

taylor morris, the deputy chief economist at redfin.says that the shift from expensive coastal metro areas to more affordable locations has been going on for a while. but the pandemic really heated up the real estate market. he says it has stayed hot because it takes time for home buyers to figure things out. >> but a lot of families, maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote, friendly or allows them to move to a area and keep the higher pay. so we see a lot of that happening looking forward. more is reluctant to make any predictions but believes the trend will continue because working from home. >> has become more widely accepted their stuff. >> permit critical juncture, a more flexible work dispersed workforce is even within large companies. and so i think there's a lot of technology adoption that happened during the pandemic. t

taylor mars, the deputy chief economist at redfin. he says that the shift from expensive coastal metro areas to more affordable locations has been going on for a while. but the pandemic really heated up the real estate market. he says it has stayed hot because it takes time for home buyers to figure things out. but a lot of families. >> maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote, friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> looking forward, more is reluctant to make any predictions but believes the trend will continue because working from home has become more widely accepted their stuff. >> permit critical juncture, a more flexible work dispersed workforce is even within large companies. and so i think there's a lot of technology adoption that happened during the p

cisco, fortnet and palo alto also down. >>> up next, the ceo of redfin on whether he sees a slowdown. >>> and later why a newport problem in china could signal more trouble ahead for the u.s. supply chain and consumer prices you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> home prices rising to an all-time record according to a new report from redfin the median home price hit $361,000 here to break down what we can expect in 2022 is glenn kelman, the ceo of redfin. happy new year to you. >> happy new year. >> you're always smiling i can see why when home prices are up 14.6% year over year in december pretty astonishing >> yes, it is. it's still on a tear the housing market won't give up people are starting to worry about inflation, though. >> are you concerned has it been too hot? i'm interested in some of the ♪ notes you shared >> inventory has been so low that's been the factor on sales v

. >> redfin says that people are still leaving places like san francisco. they're looking at more affordable metro areas. redfin economist says that this has been happening for a but the pandemic really heated things up in the real estate market and it stayed hot. >> families, maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> he says he is reluctant to make any predictions about what's next. but does say the trend will probably continue because working from home has become much more widely accepted. speaker of the house nancy pelosi is officially running for reelection. the san francisco congresswoman made the announcement in this video posted to >> twitter. pelosi is the only woman in u.s. history to be elected speaker of the house. she's represente

redfin says they are still live in places like san francisco.king in more affordable metro areas. redfin economists says this has been happening for a while, but the pandemic really heated up the realist of the real estate market and it has stayed hot and he says that's probably going to be a factor for a while. >> families, maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote, friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> he says he is reluctant to make any predictions about what's next. but he does think the trend probably will continue mostly because working from home has become more widely accepted. >> if you own a home and have not been able to keep up with your mortgage, help could be coming here. way u.s. senator from california, alex padilla talked about this program today. it's

metro areas redfin economist says this has been happening for a while, but the pandemic really heated up the real estate market and it has stayed hot >> families, maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> he says he believes this trend will continue up partly because working from home has become more widely accepted. still ahead tonight, state lawmakers are trying to ban the sale of some cigarettes will tell you about the new legislation. >> and what this means for tobacco companies. >> but first, the traditional as it examines changing students will be able to ditch their pencils for their key ports. fire officials say it will help make the college admission process more fair. oh, wow, barbara corcoran! good morning. sorry, we don't need any business help now. we're gi

more affordable metro areas and >> they're saying they're seeing it nationwide are redfin. economist says that this has been happening for a while. you've noticed it. but with the pandemic, things have really heated up in the real estate market says making it even more difficult to afford an even more people continue to move. >> the families and maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> and you see what he is saying is it's it's happening and people are able to do it because of covid changing. >> our work model. a lot of people can work from home or remotely. and so they can say, well, move to tulsa or i don't know boise or wherever you think it's easier to a ford. and yet still keep that job that you're doing. maybe in san francisco. it's a 21 right now. and

the redfin economists that was behind this study says it's been happening for a while as we know. but the pandemic really did heat things up. >> families, maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote, friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> economists believe the trend will continue because working from home now has become a lot more acceptable and could become permanent for some. speaker of the house. nancy pelosi is officially running for her 18th term in congress. she made the announcement on twitter with this video. she's represented san francisco in congress for more than 30 years and is the only woman in u.s. history to be elected. house speaker. she hasn't said whether she'll run for that roll again. but those who know her say it's likely. well, the white house is considering its options in the event

redfin took a look at the numbers and they say people are leaving expensive places like san francisco setting their sights on more affordable metro areas. redfin economists say it's been happening for a while, but the pandemic really did ratchet up the trend. it's pretty hot right now. >> families, maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote friendly or allows them to move to achieve the area and keep the higher pay. so we see a lot of that happening. >> economists believe the trend will continue because working from home has become more widely accepted and maybe something that will stay with us for a while. also making headlines this morning, we have speaker of the house nancy pelosi now officially running for her 18th term in congress. the san francisco congresswoman made the announcement in the video you see here that she posted on twitter. she's the only woman in u.s. history

but it's a little cheaper redfin. economists says in this has been happening for a while. obviously, we've noticed that. but the pandemic really heated up the real estate market and it stayed really hot. so, you know, people are driving out even more now. >> a family's maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> that's the way covid has changed. the game is now suddenly you can work remotely and maybe leave a high cost, you know, living place. and that's why a lot of people are moving. they're thinking this train just trend is going to continue because exactly that. the fact that now, you know, you can still do your job, for example, san francisco, but you could live in. i don't know. montana. >> it be cold uv. let you be young there. it while in phoenix idea

a report from real estate analysis redfin shows the median price for a home in san francisco dropped significantly. the report also shows a drop in overall sales. the numbers show the median home price in the city is $1.488 million. a drop of more than 5% from november to december. the chief economist for red finn says the holidays impact supply and demand. >> a lot of the homes that would garner the highest price they're not listed until the new year when there will be more buyers on the mechanic. so you go and bid up the price. >> the chief economist says that month over month numbers may have dropped may not mean as much when year over year prices are up more than 5%. >>> two bay area women are doing more than their fair share to help communities in need survive the latest covid search. >> and tom jensen talked to one hatch the dynamic duo working to bring testing where it's needed most. but sometimes impossible to find. >> reporter: these two bay area women already working at this busy covid testing site in hayward heard about the need in san lorenzo unify eyed school district fo

redfin says that they're leaving expensive places like san francisco and looking for homes and more affordable metro areas or if an economist says it's been happening for a while now. but things up. when it comes to - the real estate market and it stayed hot ever since. families. >> maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote friendly or allows them to move to a cheap area and keep the higher pay. so we see a lot of that happening. >> he says he believes the trend will continue because working from home has become more widely accepted, something that may stick around permanently. well, if you're a homeowner and you have been able to keep up with your mortgage, help could be coming for you u.s. senator alex padilla talk about the program yesterday. he's calling the california mortgage relief program and it's part of the american rescue plan to qualify. you have to meet certain income requir

downs of the pandemic, we are spotting a consistent trend, at the end of last year, almost a third of redfin looking to relocate to a different area. that matches the beginning of last year. before the pandemic, about a quarter of users were thinking of a big move. the increased availability of remote work plus low mortgage rates. also, not surprisingly, people are looking for a lower cost of living or better weather. the number one area nationwide that people looked at leaving, you guessed it, san francisco. >> senator oust padilla's urging californians to apply for the new free mortgage belief program. >> this program will bring $1 billion to californians who have fallen behind on their mortgage payments because of financial hardship caused by the pandemic. >> the senator made the push in a virtual event today with officials from tuesday and housing agencies. homeowners can receive up to $80 in assistance. anyone who needs help can apply online at ca mortgage relief.org. >> there is a chance of rain in the forecast. it is not much but we are saying oh, wow, barbara corcoran! good morning.

they're looking for more affordable places to live redfin says that and this is nationwide. but also, you know, focusing on san francisco, people are leaving looking for more affordable city areas to live in now that they can work from home. a lot of them with covid and everything. this has been happening for a long time. but the pandemic has really made it easier for people to work from home. also is really pushed up the real estate market. so it's a good time to sell your house, make a lot of money and move out. it's a harder time to buy. here's somebody from russian. >> a family's maybe we're home school and are going remote learning didn't quite know exactly what their long-term plans were had to figure things out with with work. maybe people are still switching jobs over the last year and moving into a job that is more remote, friendly or allows them to move to area and keep the higher pay. so we see a lot of that happening. >> it's just to remain covid has really changed the shape of the economy right with the businesses that have closed and people who are working from

. >> if anyone is on redfin right now -- >> clerk: i'm sorry, mikel, you're going in and out. are you speaking into a computer? mikel, we can come back to you. we're going to go back to you. right now, we're going to take the caller who ends in 3219. 3219, you need to press star, six to unmute. okay. please go ahead. 3219, press star, six. >> okay. can you hear me? >> clerk: yes, we can hear you. please go ahead. >> okay. i want to mention the san francisco housing crisis is more acute than ever, and because of this, it's vital to build more homes and create more diversity in our community. this project meets 25% of b.m.r., and a home that supports personal and professional development. our policy makers should work together, and communicate affordable housing options. on top of that, the future residents have public transportations on corbett avenue and hopkins avenue, and it was approximately about one-minute walk, and another -- on 925 corbett avenue and approximately a two-minute walk, and 0.2 minutes parking lots. indeed, on-site parking is no longer in [indiscernible] so