More “top of the market” headlines out that the San Francisco real estate market, in many ways, continues to ignore.
First, UBS is out with a report identifying the bubbliest housing markets around the world. San Francisco doesn’t top the list, but it’s squarely in the top 10 and on the edge of bubble territory, according to the Swiss investment bank.
Second, Bloomberg is citing data that some of the hottest housing markets in the US are starting to cool off. Similar to data we’ve been tracking here in San Francisco, our market is still growing but at a less startling clip.
That real estate in San Francisco is outrageously expensive but less frenzied than a couple years ago shouldn't come as a surprise. And despite falling rents and rising inventory, buyers of apartment buildings are willing to pay ever-higher prices. That coupled with a seeming resurgence of optimism in the tech world are making predictions (my own included) of a sloppy end to the year looking less and less likely.