Millennials are more likely than other generations to describe themselves as handy around the house, although they actually have the least experience at do-it-yourself projects.
Real Estate Trends
Over the past decade, expensive coastal metropolitan areas with thriving economies and limited housing stock have attracted younger, more educated, and higher-paid Americans, pushing other residents out and keeping home prices elevated.
About six in 10 U.S. homeowners are planning to spend money improving their properties this year, and an even larger amount will do at least some of the work themselves.
Demand for California homes remains high as the traditionally busy spring season begins, with more than two-thirds of 2018's top markets for sellers located in the state.
If you're planning to shop for a home in the Bay Area this spring, you would do well to have more than $200,000 in the bank for a down payment.
Although home prices should continue to increase for the rest of the decade, a bubble does not appear imminent nationwide, in California, or in the Bay Area.
Millennials remain the most active U.S. homebuyers, though tight inventory conditions, strong price growth, student debt, and higher costs of living remain challenges to ownership for that generation.
More than one-third of the 25 most popular U.S. real estate markets for households with seven-figure annual earnings can be found in the Golden State, with San Francisco -- perhaps not surprisingly -- topping the list.
Six of 2018's top 10 cities for money-management know-how are located in Silicon Valley, with one local city earning the No. 1 spot for the third consecutive year.
Oakland, San Jose, and San Francisco all saw building-permit activity increase last year when compared with their historic averages, with the latter leading the U.S. for growth.
Sign Up for Daily Blog Updates
Receive daily blog posts from Pacific Union in your inbox.
Sign up for Monthly Market Updates
Receive monthly real estate news from Pacific Union in your inbox.