redfin says the sales to list ratio is sitting below 100%. here's how prices are shifting to one year ago. san francisco and alameda county are seeing 10% declines. redfin tells the east bay times some of the factors include high mortgage rates and more people leaving the bay area. >>> looking for answers after san jose was found to have the highest rate anywhere of homelessness among young people. among those 18 to 24, san jose has 85 people per 100,000 living on the street. that's a much higher rate than los angeles which has about 30 young adults per 100,000. san jose first-time homeless rate in this age group has doubled in the past five years. the city's bill wilson center has been assisting families since 1973. leaders there, including the ceo, say the cost of living and a large youth population are the two factors behind the spike. and the federal government's focus on older adults leads to young people and families slipping through the cracks. >> more and more we're seeing homeless youth from homeless families. like any teenager or yo

redfin credits the drop in mortgage rates and the decreased housing demand. the chief economist expects home prices to level off. >> it's hard to predict, though, because san francisco is facing a lot of changes. there's no longer a strong pool of workers. you can get a tech job just about anywhere and a lot of those jobs are laying off workers, so people don't feel like it's worth it to pay for a home when job security is not as great as it used to be. >> bay area housing, however, still extremely high. the median mortgage payments for san francisco and san jose are well over $8,000 a month. oakland is almost $5,500. >>> get ready to laugh. ahead on "today in the bay," the stars of lopez versus lopez opening up about why their new series hits home. >> happening now, people in san francisco will get a chance to show off their green thumb. the nonprofit friends of the forest started the adopt a yard tree program and will hand out free trees to residents. some will be given out on a first come, first serve basis, and the festival tomorrow starts at the bay view

the first time that's happened since redfin began tracking such data back in 2012. so let's talk more about what's happening here in the bay area by welcoming brett barnes of dude. um, realty. thanks for being with us here at noon. thank you. are sellers unrealistic? are they holding on to what they heard their neighbor got a year or two ago. it's human nature. fear of missing out. they feel like well , my neighbor got that yesterday or last month or three months ago. why shouldn't i get that? as a real estate agent. you have to come in and be compassionate, kind and loving and say to them. yes but here's the data now and here's what we're looking at in the prices have changed. some sellers will go along with that , and some sellers are going to say this is what i want, and i'm standing with that and so properties are sitting on the market. i've heard from other realtors that if you missed that first weekend of open houses, people start asking was at home been sitting there. is that still the case? exactly yes, that was it was, you know, through 2020 21 2022 7 days

who can still afford to buy more leverage in price negotiations, redfin says. for the last three months, home sale prices were 1 to 2% below the asking price, but real estate agent brett barnes says things are starting to change. so now we've seen inflation softening a bit. we've seen interest rates softening a bit and buyers now are saying it looks like a pretty good time. so they're getting into the market and inventory has gotten better. since about mid january to now, we've seen an increase in the number of homes that you could go see. he also says homes are sitting on the market a bit longer as well. and he says the average home sits on the market for about three weeks, up from just one week during the pandemic, working from home is becoming less common. a new survey shows the amount of time americans spent working from home modestly declined in january, the percentage of paid full days worked from home in january was 27. before the pandemic hit. the average was about 5% when the pandemic began in early 2020, that number soared to at least 60. forbes relea

redfin says.rs help explain why black homeowners are accumulating housing wealth more slowly than white homeowners. recalling more than 65,000 cars and suvs because of problems with their seatbelts. the mechanism that tightens the seatbelt when there's a crash or breaking makes plodwick and send metal fragments inside the passenger compartment. the affected vehicles are the genesis g v 80 suv and the g e d g 80 genesis sedan. hyundai has had similar problems with its accent along intra and santa fe models. repairs can be done at no charge at an authorized hyundai dealer. hyundai says it will notify registered owners affected by this by april 17th. i'm pam cook. that's a look at your dollars and cents, pam. thank you. 7 48. a new study suggests a sweetener. often, er often added to diet products may actually contribute to clogged arteries and stroke. natural sweetener is called a rich three tall. it's used in many low sugar foods. several studies have suggested high levels of it may be linked to bl

according to redfin, san francisco has seen the greatest drop since the peak in october, a decrease ofost 15%, almost $1,500 a month. oakland coming in fourth at 11.6%, just under $700 a month. san jose in sixth place with a monthly savings of around $960. redfin credits it for the drop in mortgage rates and they expect home prices to level off. >> it's hard to predict because san francisco is facing a lot of changes. they're no longer the strong pool of workers in the area to get a tech job. you can get a tech job just about anywhere and a lot of those tech san francisco jobs are laying off workers. maybe people don't feel like it's worth it to pay for a home when job security is not as great as it used to be. >> we know bay area housing is still extremely high. the median mortgage payments for san francisco and san jose are well over $8,000 a month. oakland almost $5,500. >>> happening today, the oakland zoo is set to reopen. the park has been closed for just over a month. it closed after that storm caused a sinkhole at the zoo's entrance on new year's eve. you're looking at chopper

redfin credits the drop in mortgage rates and the decreased housing demand.pects home prices to level off. >> it's hard to predict, though, because san francisco is facing a lot of changes. there's no longer this strong pool of workers in the area to get a tech job. you can get a tech job just about anywhere. a lot of the tech san francisco jobs are laying off workers. maybe people don't feel like it is worth it to pay for a home when job security is not as great as it used to be. >> as it used to be, huh? bay area housing is still extremely expensive. the median mortgage payments for san francisco and san jose are well over $8,000 a month. oakland is nearly $5,500. >>> 7:39. still to come on "today in the bay," wet weather moves into the bay area. our storm ranger and cinthia pimentel are tracking how wet it will get in your neighborhood, with some spots expected to see a half inch of rain. >>> but first -- >> good morning, kira. it is candice here with the investigative unit. i have a wild story for you. a woman born in san leandro takes a dna test and find

redfin realtors tell the east bay times that they include higher mortgage rates and people leaving thea. >>> trending, an oakland librarian reuniting readers with long-lost items. >> she's done it through her project and tells kelly clarkson she found hundreds of items during her two decades on the job. >> i got, like, so many cool things, people leave all kinds of things in books. there's book marks, postcards, notes and letters, kids' drawings, a lot of photos, a crochet hook even. >> she has a blog to help people reconnect with lost items, including one reader with some lost childhood photos. you can see the full story on the "kelly clarkson show" coming up at 3:00 p.m. right here on nbc bay area. >> i wonder if she can help me find my keys some mornings. >> do you put them in a book? >> no. >>> time to get a look at the forecast. i am happy because this is going to be a day we need to take advantage of the nice weather. >> you do want to make sure whatever you can do to take more time outside, you're doing that today. because we have a lot of changes ahead going throughout the week

according to redfin, san francisco has seen the greatest drop since the peak in october, a decrease of15%, which is almost $1,500 a month. oakland is fourth at 11.6% drop, which is just over $700 a month. san jose coming in sixth with a monthly savings of around $960. redfin actually credits the drop in mortgage rates in decreased housing demand, since chief economists expect home prices to level off. >> it's hard to predict because san francisco is facing a lot of changes. there's no longer this strong pool of workers in the area for tech jobs. you can get a tech job just about anywhere, and a lot of those tech san francisco jobs are laying off workers. so maybe people don't feel like it's really worth it to pay for a home when job security is not as great as it used to be. >> we know the bay area housing is still extremely high. the median mortgage payment for san francisco and san jose are well over $8,000 a month. oakland just about $5,500. >>> it's 5:49 this morning. who is ready for some giants baseball? spring training just around the corner. fans can meet their favorite players

redfin says high mortgage rates are leaving many would be buyers on the sidelines . that's giving people who can still afford to buy more leverage and price negotiations , redfin says. for the last three months, home sales were 1 to 2% below the asking price, but realtor brett barnes told us earlier at noon that things are starting to change. so now we've seen inflation softening a bit. we've seen interest rates softening a bit and buyers now are saying it looks like a pretty good time. so they're getting into the market and inventory has gotten better. since about mid january to now, we've seen an increase in the number of homes that you could go see. barnes also said homes are sitting on the market a bit longer, as well. about three weeks from just a week on average during the pandemic. a san francisco pacific heights mansion has recently hit the market with the listing price of $35 million.06 bedroom, seven bath home is considered the most expensive listing in the city. so far this year, the home was built in 1910 and has been fully restored and modernized. the pr

be buyers, meaning those who can still afford to buy have more leverage and price negotiations , redfin the last three months, home sales prices were 1 to 2% below, asking the first time that's happened since redfin began tracking this data in 2012. walmart plans to close down three tech hubs here in the u. s while some of those tech jobs will be reassigned to the bay area. ktvu reporter lamonica. peter shows us why this could be a positive sign for what's to come next for tech workers worried about the recent layoffs in their industry. each of those hubs was not actually particularly large. sometimes there were dozens of employees and other cases hundreds, so they're clearly consolidating those into a few different locations. giant walmart recently announced it will close three of the 11 tech hubs it has in the united states, including hubs and portland's austin and carlsbad and san diego county. hundreds of tech workers will move to san bruno, or walmart headquarters in arkansas. those who choose not to relocate will be offered severance pay layoff is a shock and effects. you know ind

redfin says the numbers help explain why black homeowners are accumulating housing wealth more slowlyowners. people who live in the bay area they are getting more time to file their federal taxes if you live in a county that was declared a disaster area because of the winter storms. you now have until october 16th the pay your 2022 taxes that includes all the bay area counties. the october deadline includes business taxes and quarterly estimated taxes. you do not have to file an extension request. it's automatic happening today, ucsf nurses are rallying against what they're describing as a crisis. conditions as crisis conditions north is accused of violating nurse to patient ratio laws. their union says patients have been left in the emergency department hallway waiting for treatment. nurses are also calling for the hospital to stop doubling patients in rooms. ucsf says it's dedicated to providing the highest quality in patient care. for its patients. the cdc will host a public meeting today to discuss a serious stomach bug that's prompted a public health warning. the agency says. the

but according to redfin, that's changing. part of the reason why, our changing tech industry. >>> this is fun. think of it like the oscars for the nfl. the nfl honors awards show is tonight, and a bunch of 49ers are working the red carpet. tonight the stars were arriving at the site of the super bowl in phoenix, arizona. hey, that's brock purdy and his family. deion sanders. overall, seven 49ers are nominated for the awards, and their star pass rusher, nick bosa, says all of them are taking home the gold. >> i got me, christian -- >> kyle. >> eric, man of the year. >> d'amico. >> i don't know. >> purdy, brock. >> everybody. >> everybody. >> i think nick will win it, yeah, most definitely. what he's done, especially for our team and everything, we all love nick and so proud of him. i think we've got christian for comeback player of the year. i think he has a good shot at it too. just what they've all done for the organization, i love those guys. >> nick bosa came with his mom, you saw in the red dress there. that was brock pur

>> why doesn't everybody use redfin tomorrow? >> state of the union reaction. >> ship statn, the number one choice of online sellers. go to ship station dotcom's. try and get two months free while house republicans are taking on the administration over the border. >> administration. right. the crisis down there. the biden administration initially blocked the border agents that republicans were asking to testify. dhs finally relented, but they sent different agents. >> look, i have seen the despair. their morale is certainly decreased in the last two years. >> border patrol has had 13 suicides, five in rgv. and it's it's a terrible thing that we experienced tucson sector last year. we seized about 700 pounds of fentanyl to give you an idea based on on the lethality of a dose of fentanyl, that's enough to kill everyone in arizona. >> twenty one times the facts show we are seizing a lot more fentanyl. >> and for me, as a mom, that is a sign of success. >> republicans intensified the attacks on homeland security secretary alejandro m

joining us to discuss this, whether the signals rough times ahead, is redfin chief economist darrell fairweather. welcome back to the show. >> thank you for having me. kristen: this is big news. for the first time in 11 years, homes are averaging less than asking area how much below asking? >> just slightly below asking. it is a big change because it used to be a barria home seller could put their house on the market and expect a dozen people lined up to make an offer. now things are different. you're lucky to get even one offer, and it may be below asking price. kristen: i think the latest figure you had was from december. it was 99.2% of asking. still significance, given that a few minutes before that it was going for 115% of asking. >> that's right. it used to be homes would sell for thousands, tens of thousands, sometimes hundreds of thousands of dollars more than their asking price. kristen: let's talk about why. why is this happening? >> it is a combination of factors. the bay area used to be able to attract very wealthy homebuyers because of its tech scene. but now they can fi

hey, diana. >> hey, carl redfin reporting this month this morning the housing recovery has hit a pause request for home tours and other services the index dropped this week compared with the week before not by a lot but the first decline after a month of steady increases. this goes along with the drop last week in mortgage applications to buy a home that reported by mortgage bankers association. it's about the turnaround in rates which spent all of january in the low 6% range, but which are heading towards %. back to you guys. >> diana, one of the things i'm curious about is whether it's a zillow or redfin, or whether it's others, there's so many investors in the housing market, have those investors exited and is that having an impact on some of the dynamics we talk about more broadly where the sector is concerned? >> well, actually, in the last quarter investors did pull back a bit. there have been several reports on that and that's because housing has got son expensive. when you have higher mortgage rates some do use mortgages, not the big institutional and most use cash they did pul

all right, take care up next new figures by redfin show promising news for homebuyers out their detailsoks to be a cooling house market coming up life has never felt so expensive. so why is omar snoozing like a baby? because he made the smart choice to shop with ikea. jamie hasn't stopped dancing since she left the store. with ikea, you're caring for your wallet. and each other! and your guests, and the planet. now you can afford even more, with new benefits for ikea family members, including 5% off all eligible purchases in-store. every visit. every day. ikea anytime on our ktvu news app. have a great saturday and hopefully we'll see you over on the plus. take care. >> we are fox sports! >> college hoops royalty in the garden today. coach k and coach ed cooley chatted up before the providence friars fire up our fox tripleheader. >> announcer: it's the final month, the homestretch, the countdown to madness. though it may be february, the big east it's making its case for march. ♪ ♪

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redfin says the reasons are the increasing mortgage rates and the exodus out of the bay area as manynies embrace remote work. homes are staying on the market for much longer, average 45 days. reggie: winter weather for parts of the bay area. could see snow later in the week thanks to a storm system arriving tomorrow. storm and snow levels will drop, down to 1500 feet, we could see a light dusting of snow on the higher peaks. still to come, a warm season in full swing. and the big winners at the bathtub that could give us an idea on what to expect from the oscars. kumasi: and when brittney could be ready to return to the court. stay with us on abc 7 at 7:00. we are live weekdays, 7 a.m. to 8 a.m., you can download it now. drew: 6:40 this morning, rooftop camera, partly cloudy skies to start out the day. we will have mild weather again this afternoon. similar to yesterday. california live doppler 7, we will see average temperatures in abundance. future temperatures by 9:00 a.m. , upper 40's to lower 50's, midday in the lower 60's and the lowest spots, warming as the afternoon goes on.

housing market sl shrinks by 2.3 trilli according to redfin.t the only ones feeling the pressure cnbc out with a new piece with wells fargo laying off mortgage bankers this week as they undergo the shift strategy the reporter behind that piece joins us now it's a huge story because it's wells and because it's in mortgages. >> you're right, carl. thanks for that. you know, we're in the painful process of wells fargo, jpmorgan, other big players taking out capacity from the u.s. mortgage industry as you know, mortgages are a boom and bust industry, more than other parts of finance. when they're hot, you need a lot of human beings, a lot of people to process the mortgages and when the business collapses, as it has in the past year, they need to fire quickly to get rid of a lot of that capacity. and that's certainly what happened on tuesday we reported first that wells fargo just sent out its latest series of job cuts. we know that hundreds and hundreds of jobs of mortgage bankers across the country have been cut unfortunately, when you make the mo

we don't want them and can't do anything with them and meanwhile, the housing market redfin said value of homes declined by 2.3 trillion in the second half of last year and 46% decline in investors buying u.s. homes so let's see what the data says but that maybe unofficial, liz, it's scaring me a lot. liz: they had vacuumed up a whole bunch of homes. all in detroit -- listen, it's the free market. what are you gone to do? charles, thank you very much. charles: see you later. liz: gang, we're going to go with a split lead as we kick off the final hour of trade because two developing stories are both affecting the markets: the federal reserve minutes and that epic storm barreling across western and central states right now are those two stories. let me get to the fed minutes. basically a rear-view mirror look at what was said in the room where it happened during the federal reserve's most recent policy meeting has stocks turning red. moving between gains and losses but now in the loss column. right now we have the dough down about half a percent. up till about an hour ago, markets were m

a lot of organizations release home price data, redfin, national association of realtors, but one of most closely watched is this one, case-shiller. and i often found out robert shiller has a nobel prize in economics. they cover 20 cities, but also breaks down san francisco. last month the overall picture was declining prices nationwide with prices in san francisco declining 1.6% year-over-year. a new report lists the countries that regularly deny their citizens the internet because they want to control what their people see or civil unrest or because of war. digital rights researchers say india most often intentionally cuts off its citizens from the internet, followed by people in ukraine. but notice the asterisk. it's there because it's not ukraine doing the blocking, it's russia, and then followed by iran. india most often blocks internet in the disputed land with the border of pakistan there. researchers say overall governments shut down the internet more often in 2020 than ever before. >> the white house says all government phone users must delete tiktok in the next 30 days. man

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for the first time in a decade, redfin says the so-called sales to list ratio for home prices is sitting%. here is how prices are shifting compared to one year ago. san mateo and alameda counties are each seeing more than 10% median declines. realtors tell the "east bay times" that some factors include higher mortgage rates and more people leaving the bay area. >> spring is such a big time for homes to had hit the market. it will be interesting to see what happens. >>> trending this morning, this is a cool story, an oakland librarian known for reuniting readers with their long-lost items. >> she's done it through her found in a library book project. she's found hundreds of items during her two decades on the job. >> i got, like, so many cool things. people leave all kinds of things in books. there's book marks, postcards, notes and letters, kids' drawings, a lot of photos, a crochet hook. >> she has a blog to help people reconnect with all those lost items, including one reader that had some lost childhood photos and stuck them in the book. you can see the full story on the "kelly clarks

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the real estate company redfin says high mortgage rates are leaving.e buyers out there on the sidelines that gives people who can still afford to buy more leverage in price negotiations, redfern says. for the last three months, home sale prices were 1 to 2% below the asking price. but realtor brett barnes told us earlier today things are starting to change. so now we've seen inflation softening a bit. we've seen interest rates softening a bit and buyers now are saying it looks like a pretty good time. so they're getting into the market and inventory has gotten better. since about mid january to now, we've seen an increase in the number of homes that you could go see. barnes also says homes are sitting on the market a little bit longer, as well, about three weeks up from just a week on average during the pandemic. alright we're gonna start off with the long range model as we often do, and i want you to see what this week is going to look like and then we'll look at the five day at the end of the weather cast, so here's the system coming down. this is go

we don't want them and can't do anything with them and meanwhile, the housing market redfin said value second half of last year and 46% decline in investors buying u.s. homes so let's see what the data says but that maybe unofficial, liz, it's scaring me a lot. liz: they had vacuumed up a whole bunch of

redfin coming out with house prices.eaking at 47 point $7 trillion in june, the total value of homes declined by 4.9% in the second half of 2022. that is the largest drop in percentage terms since the 2008 housing crisis between june and december back then. houses dropped by 5.8%. i can give you the median price for a u.s. home right now. the median price was $383,000 last month. it peaked at $433,000 in may. a real change. tom: let me make clear, when michael pond talks, people in wall street just stop. he is just that good. when people talk in housing, i stop. and they tell me they have never seen this. lisa: but it is complicated. i was reading through the report. their particular areas, like the sunbelt, work prices keep climbing. miami, new york, san francisco. it is really a muddy picture. one comes out and says it is the best commercial marmot they have ever seen, even as others talk about the potential for significant increases in vacancies for office space. how do you get a clear message at such a time of change

mortgage applications to buy a home have been rising steadily and redfin reported its demand index, which hit its highest level since september last week. buyers we spoke with didn't seem that concerned about higher interest rates and were pleased to see prices easing a bit one cash buyer was worried >> i'm very surprised to see so many cash offers in the market i thought i would be at a much better position, but the competition is still there >> reporter: and to a person, every buyer said there's too little for sales while we are seeing activity rise from an historic drop, sales can't rise too much if there's nothing to buy we'll see if more sellers see the buyer competition and decide to get into this market again as it heats up this spring. back to you guys >> diana, thank you. diana olick. well, before we wrap up here on "squawk on the street," it is notable that is the moves in microsoft and meta, for example, both up over 3%, helping the nasdaq comp to a 1.1% gain thus far. we talked a lot and we'll be discussing a lot more ai and what it's going to mean to the future of microsoft.

said it was the same thing now, mortgage applications to buy a home have been rising steadily and redfins demand index, which measures requests for house tours hit its highest level since september last week. buyers we spoke to didn't seem that concerned about higher interest rates and were pleased to see prices coming down a bit. >> it is improved because, you know, you don't have to sell off like your stocks and your bonds to buy a house for cash, but it's still a bit of a nightmare. >> a nightmare, she said, because to a person every buyer said there is still just too little for sale. one all cash buyer we spoke with said he was surprised to see so many others with cash. just a note this morning, evercore isi upgraded zillow group to outperform calling q1 this year the bottom in existing home sales. >> well, i guess you have to see it to believe it, diana. thank you. for more on the housing market and who to expect from the spring selling season, we are joined by logan marishami, the lead analyst for housing wire. logan, wa explains this? what happened here >> we just had a water fall