As many of you already know, the SF Bay Area is experiencing a time of prosperity for its housing market. The month of March was an outstanding finale to the first quarter. Real estate companies are expecting higher levels of growth and productivity across the board. Furthermore, recent analyses have determined that as a nation, real estate is expected to flourish. According to a survey of business analysts and real estate experts from the Urban Land Institute, the industry is positioned for steady progress over the next three years. Home prices are expected to rise a minimum of four percent each year. Housing starts will increase by the thousands and net job growth is looking forward to accumulate millions more than its average. Lastly, real estate lenders will stay competitive and promising for borrowers.
If these calculations are correct, the SF Bay Area will greatly benefit from such events. Although these predictions do not focus on the impact of specific regions, we believe that California will be the leading forerunner of economic and housing markets. The SF Bay area was one of the first markets to recover from the 2008 recession and has continued to guide the momentum. It is no surprise that the implementation of IT opportunities throughout the bay has caused a mass migration of homebuyers. Another three years of development will only cause the numbers to grow and keep housing demand high. We tell people that selling a house in the bay area has majorly adjusted and has worked greatly in the interest of home sellers and property management companies. As the bay area continues to lead the nation’s real estate network, it is simultaneously directing California’s job growth. Indeed, the climate looks lovely so we should all anticipate the revealing of bigger and better accomplishments.
Source: Pacific Union