In San Francisco, real estate has reached eye-popping prices

Mortgage rates are high across the U.S., sitting around 7%. But even relative to the rest of the country, San Francisco has an affordability problem.

Inventory of single-family homes in the city was down 33% year over year, and demand is high.

Cynthia Cummins, a real estate agent and founder of Kindred SF Homes, said the environment is demoralizing for buyers — and shocking for her.

“Trying to find properties for buyers right now is like being a little kid at a candy store with a quarter to spend,” Cummins said, “and finding out that the price of a Bit-O-Honey has gone up to like, $3.50.”

To hear more about San Francisco’s housing market, use the audio player above.