A week or so ago we got an interesting question from a software engineer who was curious about where all the buyers in San Francisco are coming from?
We have a pretty good handle on who our buyers are and what they do, but we also know that just sharing our experience would make for a really anecdotal answer. We wanted to provide something more than that, but we don’t have a way of asking the entire Realtor community about who their buyers are… so, instead, we reached out to our own brokerage and agents we know… which leads to an answer that is probably still anecdotal, but hopefully less anecdotal and more fact based than if we were just sharing information on our own clients.
In the word cloud above, the more frequently a word is mentioned, the larger it appears. As you can see from the word cloud above (thanks, wordle), there are two basic sources that are funding buyers home purchases in San Francisco:
Technology & BioTechnology Industries
The tech and bio-tech industry is the largest source, with tech engineers, Apple, Genentech, Zynga, and plenty of others getting mentioned enough times that their words are significantly larger than many others. Attorneys, physicians, and business owners also rank pretty high on the list.
The second pool of money that is funding home purchases in San Francisco is individuals with pre-existing wealth, be it a trust fund, family wealth, or some other form of income that is unrelated to a “9 to 5” type of job situation. In my personal experience, I would say that buyers in this category include both those people who don’t live in the US as their primary residence and are looking for a secondary home in San Francisco, as well as non-foreign buyers looking for either a primary or secondary residence.
What are your thoughts about who the buyers are in San Francisco?