With the holidays upon us, I wanted to give you some quick bullet points about what the real estate market is doing to keep you informed. If you need anything, please give me a call. I’m working and available during the month of December. Here goes:
- Our Silicon Valley/Santa Clara County inventory is sitting at 2516 residences on the market–1834 single family and 682 townhouse/condo. The average days on market is 77. This is a change from last year at the same time when there were 3924 residences on the market and an average of 86 DOM. From my vantage point, it feels like things are heating up a *little* bit. Hey, but we’ll take it!
- The Conference Board Consumer Confidence Index rose to 56% in November up from October’s 40.9.
- Nationally home prices are back to Q1 2003 levels.
- Mortgage rates are the lowest they have been in 6 decades, hovering right around 4% for a 30 year fixed.
- Monthly mortgage payments are actually lower across the board than renting in 12 metro areas.
- Housing starts are up in California — builders pulled 17% more permits currently than the same time last year.
- 1 in 5 mortgaged households is underwater on their loan.
Just some fast findings to keep you apprised! It’s the good news and the bad news, but it helps to stay up on what the market is doing. Let me know if you need anything: 408-316-0660.
Enjoy your holiday season!!
Share this:
About Kelsey Lane
