San Francisco Housing Market Gets A Little More Affordable
San Francisco previously had a reputation of being one of the least affordable housing markets in the industry. Now, it seems as if that has shifted a bit according to more recent reports. That is, compared to the new leading city.
"After nearly five years of being the nation's least affordable housing market, San Francisco was stripped of its title by new leader Los Angeles in the third quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index," according to National Mortgage News.
The report also shows that 58.3% of the homes that were sold between July and September 2017 were owned by families who earned a median income of $68,000. This number is down 1.1% from the second quarter of 2017, which means affordability is increasing.
To learn more about San Francisco's backseat to Los Angeles in the rising housing market, click on the image above.