Million dollars over asking': AI wealth is fueling housing market frenzy in San Francisco

San Francisco’s AI-driven boom is pushing home prices to a median of about $1.7 million, according to Redfin, with rents climbing to levels that surpass New York City. The surge is being fueled by an influx of tech workers armed with highly valued stock options, who are bidding up both for-sale homes and, increasingly, rental properties. Redfin found that from April through June, about one in three Bay Area home sales were all-cash. A local agent says high-demand listings are seeing offers more than $1 million above asking, including one $6.5 million home that sold for over $8 million.