The housing market in the Bay Area is undergoing an amazing turn-around since January. The US Census Bureau projects 8,762 new building permits in the SF-Oakland-Fremont metro areas for the year 2012. Last year there was about 5,800 new building permits, thus we are looking at a projected 51% increase over 2011. With low interest rates, job growth, and pent up housing demand, we can expect to see more building in the greater Bay Area.
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New Single Family homes in the US sales were at their highest level in nearly 2 1/2 yrs. The Commerce Department stated that sales increased 5.7%, the highest level since April of 2010. In April 2010 for those of you who don't remember we saw a sales increase due to the government's implementation of a tax credit for first-time home buyers.
You can read the Reuters report to get more information on US Housing sales. It is currently a great time to invest in real estate in San Francisco if you can qualify for a loan or have cash.
Interest rates are historically at near their all time lowest rates.
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 AuthorGreg Bryan is a realtor and an attorney in San Francisco SF Property Values
For Blog information on unique properties and values click here on SF Values and Property Highlights.
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