Rising home prices and job growth
You might be wondering what does rising home prices and job growth have anything to do with each other. Well, wonder no more. Rising home prices and a growing job market go hand in hand. Cities with the biggest home price increases have the strongest job markets. Beside Phoenix and Las Vegas, San Francisco too has shown a nearly 20% price rise year on year. Not surprisingly, all three cities beat the national job growth average by 1.5% year over year. As a matter of fact, San Francisco leads the pack with a 3.6% gain in jobs year over year.
Standard & Poor’s Case-Shiller index
Home prices jumped 9.3% in February from a year ago and rose 1.2% from January on a seasonally adjusted basis, the Standard & Poor’s Case-Shiller index (the leading measure of U.S. home prices) of 20 leading cities shows. The second biggest gainer year-over-year was San Francisco, up almost 19%. San Francisco has too many buyers chasing too few homes. According to the California Association of Realtors, in San Francisco the single-family home was tight averaging 3.1 months in February.
Real Estate Market Report
To keep you up to date about what is happening in our Walnut Creek neighborhood I continuously update my real estate market reports. Here you can keep an eye on the changes, the trends and the numbers in your neck of the woods. The charts and the graphs are very helpful in making a sound decision about your real estate needs. Market trends and research information is invaluable when you are thinking about buying or selling real estate. Call or email if you have any question about the information provided, we can provide you with data on other areas as well, contact us.