First American Financial Corporation, a real estate insurance provider, found that San Francisco’s housing affordability actually went up in November 2016, one of only three U.S. municipalities to do so.
After six months of decreases in adjusted house prices, house prices jumped 4.4 percent month-over-month and 1.7 percent year-to-year in November 2016, with 40 out of 43 municipalities surveyed showing an increase in prices. The only metropolitan areas to show decreasing prices were San Francisco, Virginia Beach and San Jose.
Along with several other studies released over the past year, First American’s findings indicate that prices in San Francisco real estate markets are flattening out after several years of high growth. If this trend continues, businesses may find it an advantageous time to move to San Francisco.