Up. I’m done.
But you didn’t hear it hear first.
In fact, it seems that there’s an amazingly broad consensus that San Francisco (and Bay Area) prices are heading for sustained gains this year and possibly beyond.
Continued Improvement in the Housing Market or Borrowing from the Future?
The National Association of Realtors (NAR) reported yesterday that existing home sales in October rose to their highest level in more than two years. Nationally, sales were up 10.1% over September and up 23.5% year over year.
Most of the increase in sales, however, was not in the western region, where sales were only up 1.6% from the previous month. (Oh, the devil is always in the details.) And more “good news”: The western region median price of $220,200 — clearly this is not San Francisco — was down 14.7% year over year. ...