San Francisco Real Estate Market to Recover Quickly

San Francisco was named one of the 10 Hard-Hit Housing Markets That Are Ready to Rebound. This is good news for Pleasanton, Dublin, San Ramon, and Tri-Valley real estate markets.

The article ranks San Fransicso as #3 on the list behind San Diego and Tacoma, Washington. The main reason is job growth, which this writer expects to rebound sooner in San Francisco than other cities in the country.

“San Francisco will pull out of the recession sooner than most other parts of the nation, and she expects future job and population growth to support rising home values. “The types of jobs [in San Francisco] generally tend to be higher paid, and personal income growth is going to accelerate [there] quicker,” Chen says. “Personal income growth really does drive home prices.” Moody’s Economy.com projects that home prices in San Francisco will rise about 12 percent by the first quarter of 2012 and 26 percent by the first quarter of 2014.

It certainly would be welcome news. Many experts are saying that Silicon Valley will be the first region in California to rebound from the recession, which would also be good news for the Tri-Valley area.