San Francisco’s median house price jumped to a record $2.15 million in March, up 18% from a year earlier as wealth generated by artificial intelligence startups flooded the city, according to brokerage Compass Inc.
Condo prices also surged, rising 27% to $1.36 million, Compass said in a report. That was just below the $1.375 million peak of April 2022.
“The economic changes created by the Iran war – such as rising interest rates and financial market volatility – have not affected the extremely heated market dynamics in San Francisco, which are being fueled by the new employment and wealth generated by the AI startup boom,” Compass Chief Market Analyst Patrick Carlisle said in the report.
AI companies such as OpenAI and Anthropic PBC have created a new gold rush in San Francisco and employees are pouring their wealth into homes in the compact city, which has little new housing development. At least 22 houses sold for more than $5 million in March, a one-month record, Compass said. In addition, 24 condo sales topped $3 million — also an all-time monthly sales high.
The price jump in San Francisco contrasts with a modest 0.8% U.S. price increase in the year through March, as tracked by Zillow Group Inc. The previous price peak for houses in the California city was April 2022, when buyers rushed to close deals before interest rates soared.
Farmers Insurance said in a lawsuit that a former agent in Oklahoma allegedly conspired to move Farmers’ insureds to other insurance companies, including an agency where his wife works.
Farmers said Bradley McKinney broke his agent appointment agreement with Farmers when he allegedly sold insurance policies for other carriers out of his Farmers agency office.
Before McKinney parted ways with Farmers in 2025, he downloaded his entire book of business and shared the confidential information with producers at another agency, according to Farmers.
The lawsuit was filed on March 11 in the U.S. District Court for the Northern District of Oklahoma.
From 2010 to 2025, McKinney operated a Tulsa-based Farmers agency under the name McKinney Insurance & Financial Services. His wife, Tory McKinney, and producer Christopher Spicer worked for the agency until 2023, when they left to join existing Hometown Insurance Agency in Tulsa, according to the suit.