https://www.siliconvalley.com/2023/07/23/bay-area-real-estate-market-will-mortgage-rates-keep-going-up/

Thinking of jumping into the Bay Area home market? Beware: Mortgage rates have been on the rise again in recent months — and are threatening to top 7% before the end of the year.

As a result, steeper home loan payments continue squeezing out many house hunters. But growing demand from those who can still afford to buy — combined with a lack of properties coming up for sale during the traditionally busier summer months — is stoking competition, pushing the Bay Area’s typical single-family home price above $1.3 million.