Negative housing influences decrease in June 2012
A number of indicators associated with a poor housing market, such as the percentage of foreclosed or distressed properties in the metro, have decreased in the past month in San Francisco. This improvement signifies the strengthening of the local economy, which may prompt more residents to consider purchasing one of the homes for sale in Bay Area.
According to real estate market research firm DataQuick, the combination of foreclosure and short sales made up 36.1 percent of the resale market in June 2012 - down from 39 percent in May 2012, and 44.3 percent from June 2011.
Broken down, foreclosure resales of homes that had been foreclosed on in the past 12 months encompassed 18.1 percent of all resales in June 2012 - the first time the figure has been under 20 percent since January 2008.
As the local economy continues to improve and real estate values increase, San Francisco residents may want to consider if they can afford to purchase their dream home at a discount rate.