“December feels slightly break-neck. There are fewer deals to be had but we are seeing substantial overbidding,” said Blase.

 

“It is wonderful for a real estate agent. It can be tough for my buyers.”

According to the S&P/Case-Shiller Home Price Indices, buying a house in San Francisco costs 52.8 percent more than in March 2009, at the bottom of the real estate collapse.

 

The average price rise in major U.S. cities during the same period is 18.3 percent. The median U.S. home price is $169,000, according to RealtyTrac. In San Francisco, it’s up to more than $900,000.

 

That has sparked protests by San Franciscans who say well paid tech workers are pushing others out of their homes.

 

San Francisco Mayor Ed Lee has been a target of the protestors. Not everyone approved of the tax breaks he offered Twitter to move some 800 workers into a headquarters building near the city center.

 

 

http://www.cbsnews.com/news/san-francisco-real-estate-boom-taller-buildings-steeper-prices/