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Bay Area Home Prices Continuously Growing

September 30 2015
September 30 2015
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Bay area homes are continuing to sell well and Bay Area housing prices will be rising over the next year according to most experts. In the Bay Area, the real estate market is hot! It is said that the influx of high-paying tech jobs and in some areas, more overseas buyers looking for investment properties are driving the real estate market to bloom.

Home prices in the Bay Area grew faster during the past year than prices in any other U.S. city & according to CoreLogic & Paragon Real Estate reports on the housing market, San Francisco's median home price sat at $1.177 million in August —a 12.1% jump from a year ago and $950,000 in San Mateo County, on the peninsula. Based from Paragon Real Estate Group’s June 2015 report, since January 2012, the median home price scorched 107% and during the peak of the prior all-time crazy bubble, it is now 42% higher than it was. But that is still not it, as most forecasters are anticipating that a year from now, Bay Area prices will be higher, although the rate of appreciation will slow.

Ken Rosen, chairman of the Fisher Center for Real Estate at UC Berkeley envisions prices will be 9 percent higher in San Francisco in 2016. “I don’t see prices going down unless we have a big recession or mortgage rates going up much higher than a half a percent.”


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