If you bought a home in San Jose, San Francisco or Oakland during 2012 pat yourself on the back, your home has nearly doubled in value. According to Trulia, these Bay Area cities where some of the top markets in which to buy a home when the market reached its bottom more than three years ago. To determine this, Trulia factored in home value gains, job growth, wages, vacancy rates and rent increases since 2012.
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- Since 2012 homes in Oakland have appreciated more than in San Francisco and San Jose, according to Trulia.
- Wages have improved by more than 20 percent in San Francisco during the past three years.
- Wages have improved by nearly double-digits in all these Bay Area cities since 2012.
If you bought a home in San Jose, San Francisco or Oakland during 2012 pat yourself on the back, your home has nearly doubled in value.
According to Trulia, these Bay Area cities where some of the top markets in which to buy a home when the market reached its bottom more than three years ago. To determine this, Trulia factored in home value gains, job growth, wages, vacancy rates and rent increases since 2012.
San Francisco ranked as the second best place to have bought when the market hit bottom. Since that time home values have increased by 42.8 percent. At the same time the city has experienced 14.4 percent job growth and a 20.2 percent improvement in wages.
San Jose ranked as the top market to own since the housing bottom, having seen a 44.3 percent rise in home values along with 12.6 percent job growth. Wages also improved by 11.6 percent.
Oakland ranked as the sixth best performing market overall since 2012, but the best city for home value appreciation, 48.5 percent. Since market bottom, the city has also seen job growth improve by 9.38 percent.
Appreciation of 43 percent to 49 percent over a more than three year span suggests that right now might be a good time to sell for those that bought in these cities during 2012.
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