The Bay Area's real estate market and high-performance economy are currently running at full steam and appear poised to carry that momentum over the long term.
Real Estate Trends
During the current housing cycle, Oakland has become a hot spot for Bay Area homebuyers who are priced out of San Francisco, so it's hardly surprising that a new study ranks the city as one America's fastest-rising real estate markets.
While most American homeowners and prospective buyers probably do not ponder the construction sector on a regular basis, current trends in that industry could affect their wallets in the coming months.
Home sellers in San Francisco and the Wine Country who hope to receive premiums should consider listing their properties in May, while those in Southern California might want to wait until June.
Millennials are more likely than other generations to describe themselves as handy around the house, although they actually have the least experience at do-it-yourself projects.
Over the past decade, expensive coastal metropolitan areas with thriving economies and limited housing stock have attracted younger, more educated, and higher-paid Americans, pushing other residents out and keeping home prices elevated.
About six in 10 U.S. homeowners are planning to spend money improving their properties this year, and an even larger amount will do at least some of the work themselves.
Demand for California homes remains high as the traditionally busy spring season begins, with more than two-thirds of 2018's top markets for sellers located in the state.
If you're planning to shop for a home in the Bay Area this spring, you would do well to have more than $200,000 in the bank for a down payment.
Although home prices should continue to increase for the rest of the decade, a bubble does not appear imminent nationwide, in California, or in the Bay Area.
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