With the median price for a single-family home in the Bay Area reaching $1.46 million in May — a 12% increase from last year that nears a record $1.5 million median price set in April 2022 — Berkeley’s housing market remains an outlier with its current decline in prices. However, it is anticipated that prices in Berkeley will follow the upward trend within the next 12 to 18 months, according to Oscar Wei, deputy chief economist at the California Association of Realtors, or CAR. In Berkeley, median home prices in May were around $1.5 million, a 6% decrease from last year, according to CAR housing market data. Wei noted this dipped almost 20% below the 2022 peak of $1.85 million. Read more through the link in bio. ✍️: Matthew Yoshimoto 📸: Maxine Eschger . . . #dailycal #ucberkeley #housingcrisis #bayareahousing