Note: Case-Shiller Home Price Indices for “San Francisco” are for a 5-county area, of which the city’s housing market is a very small part. Since they are published 2 months after the month of the Index, are 3-month rolling averages, … Continue reading →
April Newsletter: A Hot Market Getting Hotter
San Francisco: A Hot Market Getting Hotter 1st Quarter 2013 Market Report In 2012, the market turned with a vengeance and grew very hot very quickly. Now in 2013 it has grown even hotter. Recent deal-making stories almost make the … Continue reading →
Surprise! Condos are Holding Up Better Than Homes
For the quarter century (gulp!) that I’ve been involved in real estate, the conventional wisdom has always been that condo values generally do worse in down markets than homes. Why? To be honest, I’m not sure, but I think it’s because it’s easier to overbuild the condo market than the single family home market. It goes back to that famous quote: “Buy land – they aren’t making any more of it.” Just take a look at Miami, Chicago – or downtown San Francisco. One new high-rise can hold hundreds of condos in the sky. Try building just one new home in SF, let alone hundreds – it aint happening.Of course, more supply + less demand in a down market means prices fall. Has that been the case in San Francisco? ...