Single-family homes will likely see a three- to five-percent appreciation in 2017, says First Republic Bank’s Senior Managing Director and Portfolio Manager Alan Zafran at yesterday’s annual holiday Realtor luncheon at the St. Francis Yacht Club in the Marina. Trends are pointing to these slight price increases due to supply constraints and the overall desirability of the city.
But Zafran believes condo prices will continue to soften due to the wave of new construction in the city, with things evening out in five years.
For you investors out there, it may be time to buy up rental property. Because a very low percentage of Bay Area residents can actually afford to purchase a home here, the demand for rental apartments should be steady.
The continued strength of the tech industry will be key, as our economy is largely driven by that sector.