Author Box
Articles Categories
All Categories
Articles Resources

The West Is the Best: The Booming Housing Market in San Francisco, CA

April 06, 2012 | Comments: 0 | Views: 138

While there are still miles to go, the economy is beginning to see its first steps towards recovery in a long time. Neighborhoods and housing markets are reawakening after years of stagnant market activity and inability to sell. San Francisco, CA especially is seeing a huge upswing in the activity of its housing market with homes for sale experiencing relatively short stays on the market, and the lowest mortgage interest rates in years. The San Francisco real estate market is coming back with force and now is a better time than any to look into a house for sale.

Despite the nationwide glut of unsold homes in the housing market, San Francisco is experiencing a high traffic market where homes for sale are being bought up relatively quickly. Studies show that 35% percent of houses for sale accepted offers last month, upwards from a 14% low in the Fall of 2010. The same studies are indicating a high month supply of inventory (MSI) showing that it is on average taking under 3 months to sell off all inventories of a property, with homes for sale accepting an offer after 57 days on the market, on average.

While the truth about the housing market is that the price and MSI is entirely dependent on the home's unique case (model, neighborhood, amenities, etc.), San Francisco neighborhoods all seem to be experiencing a spike in their real estate markets. Especially in areas where high tech employment is available, such as the greater South of Market area, the housing market is especially beginning to gain momentum with an MSI of 1.6 last month. All models and makes of homes are being sold as well, with the most popular being contemporary designed condos and traditionally designed houses.

Finally, what is really setting the Bay Area market apart is its low average mortgage interest rate. San Francisco is experiencing a huge drop in the mortgage interest rate, at 3.88% in January, far below the national average of 4.3%. To put more perspective on this, the average mortgage interest rate in 1981 for San Francisco was 18.45%, making this the best time in almost twenty years to buy a home.

With the homes for sale market booming and the economy beginning to look optimistic, now is the best time to seek out a real estate agent in the San Francisco area and secure your place with a high value home in a growing neighborhood.

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

Housing Market


San Francisco


Mortgage Interest Rate


Homes For Sale


Real Esate

The 3 Month Payday Loans is most suitable options for the people who do not possess assets. There are a variety of loan options for the people who are willing to pledge assets against the cash

By: Cameron white l Finance > Personal Finance l July 09, 2013 lViews: 560

For many people, bankruptcy can make their world fall apart. The apparent loss of reputation coupled with the inability to take financial decisions can deter anyone from thinking clearly. But all is

By: noragwilt l Finance > Bankruptcy Lawyers l November 18, 2012 lViews: 304

If you are availing payday loans with monthly payments, it is easy for you to obtain quick money from online lending companies.By getting the best deals of loan, you can save money in terms of

By: Malen Cheks l Finance > Loans l November 16, 2012 lViews: 289

Loans online have become the popular source of income and people can make smart decision of taking it.Now, don’t go anywhere and sit in your home silently. Such deals would bring you money without

By: Marsh Jone l Finance > Loans l November 13, 2012 lViews: 288

Loans for the unemployed would let you feel comfortable with your unstable conditions due to jobless period.If you compare the rates of a few lenders, you would definitely get the suitable lender to

By: kelse roy l Finance > Loans l November 13, 2012 lViews: 467

By taking cash advance for bad credit, it is easy for you to improve your credit status. This loan is useful to relieve financial stress. This loan is totally free from credit verification and

By: Honard Nork l Finance > Loans l November 09, 2012 lViews: 301

Here is some of the common home loan terms that one comes across while applying for a home loan. What is an E.M.I?

By: Subhrajeet Talukdarl Finance > Home Equity Loansl May 31, 2012 lViews: 183

Are you confused about investment home loans and how to find the best option for you? This article gives you 7 hot tips on how to find the best option for your personal situation so you can save

By: Julian Thorntonl Finance > Home Equity Loansl May 31, 2012 lViews: 172

Purchasing a home for you and your family doesn't have to be difficult. There are easy ways to go about it. It is wise though, to arm yourself with knowledge before you proceed to do so.

By: Sabrina A Becnell Finance > Home Equity Loansl May 26, 2012 lViews: 164

A home equity loan allows a homeowner to use the equity they have built up over several years living in their home as collateral for a second mortgage. Homeowners can essentially inject liquidity

By: Rocky C Rhodesl Finance > Home Equity Loansl May 25, 2012 lViews: 187

Under the Islamic law called sharia, all Muslims are clearly prohibited from enjoying money from riba or surplus value without counterpart. In simple words, one is not allowed to pay or receive money

By: Ilham Syahl Finance > Home Equity Loansl May 24, 2012 lViews: 177

We explore some of the variations in the biggest home loan market of all, the United States of America, and how these can impact on the overseas investor. I'll explore, the variation in lender's

By: Stephen John Brownl Finance > Home Equity Loansl May 23, 2012 lViews: 188

Everyone has their own tips for buying a home, but we'd like to present to you 4 new tips for navigating the homes for sale or home builders markets that you probably haven't thought of! A look at

By: Andy K Paulsonl Real Estate > Buyingl February 22, 2012 lViews: 119

Discuss this Article

comments powered by Disqus