San Francisco Housing Market Outlook: How safe is the market right now for buyers, sellers and investors? By Norman Green the market for an average of 14 days. The rent market has also been affected quite significantly. The median rent in San Francisco has grown 9.5 percent to $2,270. one of the main factors that have been driving prices in this lucrative market is low mortgage rates that have had a direct impact on the buyer’s ability to afford a home in San Francisco. For more than a decade, the supply and demand forces have been growing out of balance reaching a tipping point in the last two yearsagain driven by the low mortgage rates. People came into the market in droves sending the house prices haywire. JUNE 2022 | 127
PHOTO FROM 123RF
W
hen you think about the San Francisco housing market, two things come to mind; skyrocketing housing prices resulting in one of the worst affordability crises the state has seen so far and the chronic lack of units for sale. By April 2020, the median listing price for homes in San Francisco was $1.3 million. This shows that the median home price in the Bay Area had risen 70 percent since 2012- inflation-adjusted. Fast forward to 2022, the median home values in San Francisco have grown to $1.5 million with a one-year appreciation rate of 7.3 percent. Additionally, our data shows that the number of new listings was down 27.8 percent with most homes staying on
