I've been looking for the perfect home for a while.But after a few years of waiting, I finally found it.I knew I wanted a two-bedroom, two-bathroom home, with an attached garage, that was located near the river.I also knew I needed a backyard.So I put down my deposit, and in December of 2015, I walked into the Realtor's office in the River Oaks section of San Francisco.He was so happy to see me.I ...
Realtor Michael A. Cordero Jr. expects that sales of condo units in the Bay Area will rebound in 2019, after slowing the previous year, as well as in 2020 and 2021, when many people expected the market to crash.
In the past year, the number of condos sold in the area rose more than 20 percent, and in 2018, Corderos prediction showed the condo market would rebound to 6 percent.
He said the market has seen a rebound in both the number and quality of units, with some of the biggest gains coming in the city of San Francisco and Santa Clara.
Corderos predicts that by 2019, the Bay area will have more than 9,000 condos on the market, compared with 9,100 a year ago.
«I think this year will be a breakout year,» he said.
The housing crash has also hit the condo industry hard, with a recent survey showing that more than one-third of all condo units sold in 2017 were vacant or had been abandoned.
In 2019, there were 1,300 condo units listed on the CondoTrac site, which is used by the California Coastal Commission, according to a survey of 5,000 buyers in October.
In 2018, there was 1,400 condos on Ctrac, but that was down from 1,564 in 2017.
Other trends: As the number one housing market in the country, the rental market is expected to be buoyed by an influx of new housing, including luxury condominiums and office buildings.
A housing shortage has pushed up prices in some cities, including San Francisco, where rents jumped 30 percent to a median of $1,800 a month in the first quarter of 2019, according a survey from brokerage firm RealtyTrac.
Despite the rental-market boom, the median home price is expected not to increase much in the next two years, even though the median salary in the U.S. is expected for 2019 to be $66,800.
With prices rising, some homeowners are seeking to downsize their homes.
The median renter’s price in San Francisco is expected rise to $1.3 million in 2019 from $1 million in 2018.
For more, see: http://www.realtor.com/home/2017-10-29/story/cancels-new-home-for-student-finance-counseling-coverer-says-resume-loses-5%-in-month-1#ixzz4BqK7Vf3g