Thursday, May 10, 2018

Silicon Valley Housing Market Maintains Steady Growth

(Click on the image to enlarge)

The Silicon Valley (Santa Clara County) housing market continues to trend up, while the median price approaches a whopping $1.25M. Of course, certain towns – Cupertino, Los Altos, Mountain View, Palo Alto, etc. – are significantly pricier. Both trendlines are confirming the upsloping trend. Wonder what kind of income one needs to qualify for a jumbo mortgage? 

The normalized price (bottom chart) confirms the trend as well. In fact, the median Price per SF has already breached $700 (the Feb-18 $770 could be an aberration). Again, both trendlines are not only confirming the upswing but the breach of the prior high as well. 

Of course, if the 30-year Jumbo continues to trend higher, we may see some slowdown – or not?

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