“Buyer fatigue” is setting into Silicon Valley real estate markets according to Selma Hepp, PhD, chief economist at San Francisco-based Pacific Union International. “In my latest monthly analysis of Bay Area housing markets, the most interesting findings are in Silicon Valley. They include a notable drop in sales year over year, a decline in absorption rates and more inventory. It’s more pronounced in Silicon Valley since that area was very strong last year,” observes Hepp. “I also see budget constraints with buyers under the $3 million price range.”

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