Bay Area Housing Market: What Can You Buy for Half a Million?

In the Bay Area, finding a home for $500,000 is challenging due to limited inventory and rising prices, which have increased by 6% over the past year. Most options are smaller homes, condos, or fixer-uppers, often found in suburban areas like Vallejo and Benicia. The competitive market is driven by a strong job market and high demand, with interest rates around 7% affecting affordability. Buyers should consider emerging neighborhoods and be prepared for multiple offers, as homes at this price point attract significant interest.