SF Realtors Asociation: Recovery

Looking For a Slow Recovery

We are confident that the housing market in San Francisco is in the early stages of recovery and expect a expect a sustainable but modest rise in San Francisco home prices for the balance of 2010,” says the most recent Market Focus report issued by the Rosen Consulting Group of Berkeley

The usual optimists case is based on better affordability levels, aided low mortgage rates and the fact that SanFrancisco created jobs this quarter. I honestly think that if it wasnt for the reverse commute busses offered by Google, Apple, Ebay and Genentech we would see some really big price drops. Bringing well paid tech workers to the city, by making the commute free and easy has done wonders for a low vacancy rate and home prices that have held up comparatively well.

I am seeing good job relocations coming into the city. We are blessed to have twitter, Trulia and the South Bay big tech companies so close to San Francisco. They are doing well, they are paying well and they are hiring

John Lee, president of the San Francisco Association of REALTORS®, notes, “The overall underlying trend of the housing market in San Francisco should remain positive, resulting in price appreciation and a further tightening of market conditions into year-end 2010.

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