Confidence in San Francisco's Hot Housing Market Cools
As San Francisco's housing market continues to get hotter, posting double-digit year-over-year increases in home appreciation, confidence in the market is dipping, according to Zillow's latest Housing Confidence Index. For instance, in January, when home values were rising at a rate of 7.9% annually, 18% of renters age 18 to 34 planned to buy a home within a year. That number dropped to only 5% in July, when values were rising at a rate of 11% per year. Additionally, only 69% of homeowners believe houses in their area will be worth more in 10 years, compared to 72% in January. 40% of survey participants say now's a good time to buy a home, compared to 45% in January, and 74% surveyed feel now's a good time to sell a home compared to just 67% in January. [SFBT]
