Over the past decade and a half, more than 20 U.S. states have not built enough homes to meet demand, leading to rising prices and decreased affordability, with California accounting for nearly half of the undersupply.
Tag Archive: San Jose
The Bay Area's high-performance economy has been driving demand for housing for the past five years, and the region's job market appears stronger than ever in 2018.
Over the past decade, expensive coastal metropolitan areas with thriving economies and limited housing stock have attracted younger, more educated, and higher-paid Americans, pushing other residents out and keeping home prices elevated.
San Francisco retained its title as America's hottest housing market in March, while a proposed ballot initiative could help ease California's housing inventory crunch. Get the lowdown in Pacific Union's latest weekly Real Estate Roundup.
Demand for California homes remains high as the traditionally busy spring season begins, with more than two-thirds of 2018's top markets for sellers located in the state.
If you're planning to shop for a home in the Bay Area this spring, you would do well to have more than $200,000 in the bank for a down payment.
Americans in their early 20s are already starting to buy homes despite challenging market conditions, while Facebook has reportedly leased almost 1 million square feet of office space in Sunnyvale. Get a handle on notable housing market developments in Pacific Union's weekly Real Estate Roundup.
Although home prices should continue to increase for the rest of the decade, a bubble does not appear imminent nationwide, in California, or in the Bay Area.
Prefabricated homes are popping up in the Wine Country, as those affected by the October wildfires seek a quicker way to rebuild. Also, homebuyers in Silicon Valley are making down payments almost 15 times larger than the U.S. average. Get the lowdown in Pacific Union's latest Real Estate Roundup.
More than one-third of the 25 most popular U.S. real estate markets for households with seven-figure annual earnings can be found in the Golden State, with San Francisco -- perhaps not surprisingly -- topping the list.
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