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Resurging tech industry pumps up San Francisco-area real estate

Real Estate Market Report

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Tech is back -- and tiptoeing along behind it, at least by some measures, is the San Francisco-area real estate market.

Local media and numerous agents contacted by Inman News report that a revival in hiring within the broadly defined technology sector is giving new life -- or is expected to give it -- to housing in numerous parts of the Bay Area.

"While San Francisco isn't Silicon Valley, it's not that far (of) a commute, and we have our fair share of new and exciting startup companies here as well," said Luba Muzichenko, a San Francisco agent.

"Tech jobs are on the rise, and with the increase in high-paying jobs, we are seeing more and more younger, first-time homebuyers."

Indeed, technology-based industry -- which drove Bay Area home prices to fabled levels during the headiest days of the housing boom -- seems to have found its legs. At the end of 2010, San Francisco had an estimated 30,700 tech jobs, compared ...