Housing prices in San Francisco have plunged to pre-pandemic levels amidst widespread layoffs in the tech sector, with condos and co-ops down 14.7% from May 2022.
Single-family homes are down 15.4% from their peak in 2022, currently averaging $1.39 million, reflecting price levels not seen since 2019.
According to Zillow data, condo prices have seen a dramatic decline of 30% in just two years, significantly reversing the previous decade's growth.
Widespread tech layoffs in San Francisco have contributed to the housing price drop, with over 20% of the workforce in the 'Information' industry lost since its peak.
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