There are many articles right now about the trends in real estate, but the biggest one has to do with cities like Walnut Creek. That’s right, second-tier cities (as they are called) are cities near main hubs (like our city to San Francisco). These cities are benefiting simply from lower costs of living, the increasing ease of staying connected far from main hubs, more upside from affordable and available investment opportunities, and increasing sophistication from realtors and investors. For buyers, sellers, and renters alike, second-tier cities seem to offer more than their popular counterparts.
According to the Council for Community and Economic Research, the total cost of living in San Francisco is 62.6% higher than the U.S. average—and housing is nearly three times more expensive than in other U.S. cities. And in comparison to San Francisco, Walnut Creek offers a better quality of life with more affordable real estate and rents, which is a perfect option for three demographics, those looking to buy, those looking to downsize, and those looking to rent!
So, the biggest real estate trend for this summer is… looking at and moving to second-tier cities. Now, I say trend because as people create a demand in the area, it can cause traffic, congestion, and rent / real estate prices to increase. We want to stay second-tier for a long time. Our city can progress without loosing the qualities that make Walnut Creek so desirable! This said, if you’re thinking about moving here now or anytime soon, it’s time to seriously start exploring options.