Ed's Blog

Recently, the San Francisco Chronicle (June 7, 2010) reported that sales of single-family homes in San Francisco rose by 50% in the first quarter from a year earlier, and that the median price rose 5.4% to $685,000. The article went on to say that home prices are forecasted to gain 7% this year. That would be the biggest gain since 2005. Wow! Are you kidding me!? Good economic news in the newspapers? Fear not it's true.

And the news was good in more places than just San Francisco; as the article went on to say that “prices for existing single-family homes rose in 60% of US cities in the first quarter.”

But back to San Francisco. The article talked about bidding wars being back (who ever could have believed!?), and the nascent rebound in the tech industry. Now if only we can get a real employment recovery underway we’ll all be able to feel much better about the turn in the economy.

If you'd like to read the article, click here.