Homebuyers Are Happy, Led by Millennials
Recent homebuyers are overwhelmingly happy with their purchases, according to a recent survey, but the reasons why depend on the age of the buyer.
Recent homebuyers are overwhelmingly happy with their purchases, according to a recent survey, but the reasons why depend on the age of the buyer.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a poll that finds San Francisco residents now cite the high cost of real estate as the most important issue facing the city. Also, recently released data shows that about half of Bay Area buyers are paying above asking prices for homes.
Two recent reports recount an exceptional 2013 in Bay Area residential real estate and deliver an optimistic forecast for the coming year.
Recent news of interest to homebuyers, home sellers, and the home-curious includes news that San Francisco’s real estate prices have led one firm to label it No. 3 on the list of the world’s least-affordable cities. In other local real estate news, Oakland homebuyers took properties off the market faster than anywhere else in the country in December.
Although many high-paid Bay Area residents can afford the monthly mortgage on a home in our expensive region, the down-payment hurdle can prove difficult to overcome. REX HomeBuyer down-payment funding from FirstREX can help solve that problem, and some Pacific Union clients are already taking advantage of it.
Housing markets are taking a “fall breather,” according to John Burns Real Estate Consulting, but the company’s forecast calls for “a solid market in 2014 and beyond.”
Home prices across the U.S. saw yearly increases of about 10 percent in the second quarter, while most California markets posted gains of near 20 percent or more, according to a new report. And while the report predicts more modest national price growth into 2014, buyers in Oakland should still expect to see double-digit jumps.
Recent news of interest to homebuyers, home sellers, and the home-curious includes a survey that finds that almost half of Californians are currently paying more than list prices for homes. Hefty prices in San Francisco, meanwhile, aren’t going away; in fact, home prices in the city just saw their biggest yearly gains in more than 12 years.
Pacific Union CEO Mark A. McLaughlin weighs in on the John Burns Real Estate Consulting Home Value Index, a forward-looking report that predicts continued home price appreciation in the Bay Area through 2017.