San Francisco Market Focus Report June 2011
Straight from the horses mouth…San Francisco Market Focus Report June 2011.
Fending off concerns of a possible double-dip in housing prices, the local market is slowly on the path to recovery. There are fewer REOs on the market, oreclosures are slowing way down due to government intervention, and employment is inching up.
According to a recent survey released by Move, Inc., an informational real estate company with a growing network of web sites, real estate investors will be more active in their local markets by a 3:1 margin compared to typical home buyers in the next two years. Sixty-nine percent of investors surveyed expect it will be easier to find properties in the near future and two out of five investors believe it will be easier to sell their properties in the next six months.
And, as reported in the San Francisco Chronicle, DataQuick, a real estate tracking firm, says that although the San Francisco Bay Area fell to a three-year low back in April, the portion of homes bought with adjustable-rate and jumbo loans rose, and the share of sales involving foreclosures, investors and cash buyers fell.
–San Francisco Market Focus Report June 2011 [San Francisco Association of Realtors]