What’s the saying... history rhymes?
For a city that sprung up around digging for gold, San Francisco finds itself in a familiar pattern. These days, it's different precious hardware behind another economic rush.
As Business Insider recently reported, "The AI boom has lit a fuse under San Francisco's housing market, with prices and rents inflamed by a tech workforce increasingly returning to the office, and as the AI talent wars push salaries to dizzying heights."
Danielle was featured in the piece, noting that despite eye-popping salaries, AI homebuyers tend to be pragmatic and data-driven. Many use large language models to analyze payments, taxes, and micro-markets before touring properties.
The numbers back this up. While Bay Area home sales dropped 2% this year, San Francisco sales rose 5%. Single-family homes face fierce demand and condos are perking up too, though we haven't reached full pre-COVID recovery yet.
With fall being our second-busiest season for home sales, conditions are ripe this year. Mortgage rates sit near three-year lows, stock markets hit all-time highs, and rental competition is intensifying with average rents up 11% annually, the highest increase nationally.
Further reading:
As always, reach out with any real estate questions. We are happy to help you and anyone you send our way!
Prospective Buyers Rush for Loans as Rates Drop | NAR.realtor
Bay Area’s Historic Green Gables Estate Sells for $85 Million After Steep Price Cut | SF Chronicle
The Latest Kitchen Trend Upends the Spotless, Showroom Aesthetic | Mansion Global
If You're One of Those People Asking How Much Lower Your Mortgage Rate Quote is After Fed Day, This is Required Reading | Mortgage News Daily
California Adds New Disclosure Rules for People Selling Homes in Fire-Prone Areas | SF Chronicle
Americans Are Counting on an Inheritance Instead of Saving—but Family Homes Could be a Complication | Realtor.com
Transform your Garden: How to Design the Perfect Outdoor Living Space | Knight Frank
Want to learn more about neighborhoods around SF? Here are a few we think you’ll love.
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