We know that love is in the air this week… and that the real estate market is as dynamic as the local flower shop too! Since we know you have big plans this weekend (pajamas and Netflix count too!), we have narrowed it down to the top 3 resources you need to review now to keep you in tune with the market without getting overwhelmed but it. Here goes…
#1: The Housing Shortage Tracker
Published by the National Association of REALTORS®, the Housing Shortage Tracker computes how many new single-family home permits are issued for every new job in 178 metropolitan areas. According to this clickable map, there is 1 new housing permit issued for every 10 new jobs created in the San Jose-Sunnyvale-Santa Clara metro, and 1 new housing permit issued for every 12 new jobs created in the San Franciso-Oakland-Hayward metro. View the exact number of jobs and permits in all tracked metro areas HERE.
#2: The Homes of Silicon Valley Real Estate Report
If you are a faithful blog follower, we know you have seen this resource before! This is your friendly reminder that this market data is updated every month; be sure to click on the individual data categories to see data compared to not only the month prior, but the year prior too! For example, did you know that while housing days of inventory is up 87.4% compared to last month, it is down almost 41% compared to this same time last year. And while median home prices are down 3.1% compared to last month, they are up 15% compared to this time last year. See more HERE.
#3: CraneWatch Update: North, West & Downtown San Jose
We always appreciate this feature in the Silicon Valley Business Journal, and we are pretty sure you will enjoy it too. Brokers and researchers have called downtown San Jose a ‘submarket to watch this year’ that is ‘beginning to fire on all cylinders’. This particular CraneWatch edition highlights 7 commercial developments in downtown San Jose and beyond which range from student-focused housing to senior living to office parks and hotel expansions.
Did you know: “…developers' views on office, industrial and multi-family development in California from now until 2022 are optimistic, according to a winter 2020 California commercial real estate survey by law firm Allen Matkins and the UCLA Anderson Forecast published last week.”
Please let us know if you have any questions about what the data above means for any of your short- and long-term buying, selling & investing goals.
All our best,
Homes of Silicon Valley