Home prices are rising in the "glamour cities" on the East and West coasts, including San Francisco which saw a 16% rise in home prices in the 3 months that in ended in April, according to the Case-Shiller index.
The combination of young and affluent buyers coupled with low inventory is driving up San Francisco's property prices once again, as reported by Bloomberg.com:
With inventory low, properties in the city's Noe Valley and Dolores Heights neighborhoods are getting multiple offers, said Suhl Chin, an agent at Zephyr Real Estate. A 'fixer' three-bedroom on Liberty Hill had 12 bids and is in contract for over $1.5 million, she said.Click here
for the complete article from Bloomberg.com.