Bay Area housing market improving greatly and receiving additional funding
Homes for sale in the Bay Area have been lauded over the past year or so for their improving housing statistics and overall quality of life. This trend is continuing as 2012 moves into its final months. The property in and around San Francisco maintains the title of being some of the most hotly-contested real estate in the entire nation, and those looking to relocate to a nearby community should certainly look at residences before 2012 comes to a close.
Recently, hard numbers have shown exactly why now is a better time than ever to own a home in San Francisco.
Improving housing statistics
Business Insider reports that the U.S. housing market as a whole is beginning a gradual incline, but this is especially true in the greater Bay Area, where healing has occurred since March of 2009. From this point, the average home price is up almost 18.1 percent, according to the news source. Conversely, other cities have only just begun experiencing an increase in average home price, which means that the Bay Area is way ahead of the curve.
Additionally, as prices have been increasing year-over-year for almost 4 years in a row, a potential homeowner can be assured that value is not likely to diminish over the next four years or even the next decade. While there might be some inflation and dips in price, the overall outlook is clear - the housing market in San Francisco is predicted to continue improving.
The Rock Hill Herald reported that the Federal Home Loan Bank of San Francisco (FHL) recently allocated $1 million in funds to member financial institutions through the agency's Access to Housing and Economic Assistance for Development (AHEAD) program. The initiative is designed to improve Bay Area communities in categories across the residential spectrum, from quality of life to public building renovations.
"The Bank is pleased to be a resource for our members and their neighborhood partners who are looking for support for creative responses to urgent community needs," said Jim Yacenda, Vice President and Community Investment Officer at FHLBank San Francisco, according to the news source. "Once again, the AHEAD Program is being tapped to plant seeds and grow capacity for efforts to address issues ranging from the environment, employment and job training [to] distressed and destabilized communities."