Jobs--They DO Affect the Housing Market!: One thing that is always in play regarding availability and, more importantly, the costs of homes is the relevant local job market. It isn't surprising that this is the case. If people aren't working, they're not likely to be considering the purchase of a home--first home, move-up or anything else. No income, no buy--very simple and logical. So, when the local job market improves, that means more folks are probably going to be out there looking to
purchase a home
. This, in turn, will likely drive prices up, relative to the market. Recent statistics show that San Francisco is now the third best job market in the country, right behind Austin, Texas and Washington, DC. Such a good rating only bodes well for sellers. Given the continued relatively low interest rates
, it can also
buyers if sellers start to jump on the bandwagon too. The site, NerdWallet noted that San Francisco’s high median household income (No. 2 at $72,947) offsets the city’s high cost of living. “With Silicon Valley nearby, San Francisco has become a tech hub in recent years, and its population growth indicates the city is home to many transplants,” NerdWallet said. “Tech and tourism dominate the job market in San Francisco, and tech giants such as Facebook, Google, Twitter, Yelp, and Dropbox are located in or just outside the city.” The job-seeker rankings were based on income, cost of living, the
rate, and population growth. NerdWallet also recently ranked San Francisco the 10th best city for recent
, citing its “walkable layout and great social scene,” and the fourth most expensive city. The site produced the rankings with its new City Life Tool, available online, which provides extensive demographic profiles of 26 of the nation’s largest cities based on data from the U.S. Census Bureau, the Council for Community and Economic Research, and other sources. Although NerdWallet is talking about the San Francisco job market, with Marin being one of the leading up-scale housing areas serving the City, means that this SF job market directly affects the Marin housing market. If you've been uncertain about your own situation up to now, perhaps these stats will cause you to rethink things. Questions? Call us: Peter: (415) 279-6466; Jane: (415) 531-4091.