Silicon Valley Market Update June 2022

by Sophie Tsang 06/14/2022

 

 

Silicon Valley Real Estate Market June 2022

 

Jamie Dimon, JPMorgan Chase CEO, says 'brace yourself' for an economic hurricane caused by the Fed and Ukraine war.

MLS consultant Dr. Elliot Eisenberg is a lot more optimistic about the market going forward. Fed will continue to raise rates to combat inflation. If the rates go up too fast, it will cause recession. But it will be a 'mild' recession according to Dr. Eisenberg. 

A lot of buyers are asking, should we wait? Timing Real Estate market is as difficult as timing stock market. Recession doesn't mean home prices will come down. Time is money too. Would you want to live in a sub-standard situation for indefinite amount of time?

In the last 2 years, a lot of people moved out of the large cities like San Francisco and New York. The population outflow has helped home prices of out skirt areas. As employees are called back to the office, we'll see some reverse flow. 

Per Dr. Eisenberg, inventory is still the most important factor affecting the real estate market. Meaning more homes on the market, the prices will become softer. If inventory continues to be slim, price will stay high. There are usually more homes on the market as we roll into the Summer. 

Anything Real Estate related, please contact me. I'm happy to help.

 

Santa Clara County last 13 months

 

San Mateo County last 13 months

 

 

Median Home Price

 

About the Author
Author

Sophie Tsang

Sophie’s Civil Engineering background and marketing expertise contribute to her broad understanding and high efficiency in marketing real estate properties. She has been consistently a top performer since 2005, and ranks top 1% of all Silicon Valley Realtors, and top 1000 Realtors in the country per World Street Journal Real Trends.

As a seasoned negotiator, Sophie’s no-nonsense marketing system and meticulous attention to details have been key success factors. She is known as the The Fixer, or the Miracle Worker, frequently helps sellers sell their homes when other agents had failed or given up. She helps buyers get into homes when they previously struggled. 19 years in Real Estate, Sophie has honed her skills on getting the best possible results for her clients. Her trusted network of vendors and use of cutting-edge technology ensure each step of each transaction is executed to achieve next level result!

Sophie is a proud parent of 2 Eagle Scouts. She has done guest speaking at Faith Radio, and written a column for World Journal Newspaper to share her Real Estate knowledge. Sophie is a Palo Alto Rotarian and a Paul Harris Fellow, also a Golden Gate Keeper (Golden Gate National Park Conservancy)