Silicon Valley Real Estate Market June 2024

This is a great element if the agent has beautiful listings




                                                                                            Silicon Valley Real Estate Market June 2024


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I'm grateful to my incredible clients and partners for helping me achieve this.

The real estate market is showing signs of seasonality, with increasing reports of price reductions across various markets.

The Federal Reserve does not appear to be concerned about the impact of interest rates on the market, indicating that rates are likely to remain high.

Higher end properties are not as impacted by the rates. There are more cash deals for properties priced over $4 million on both coasts. 

About 60% of homeowners have a mortgage. There are about 900,000 fewer listings per year than usual, largely due to homeowners with mortgages being financially incentivized NOT to move. Meaning currently having a mortgage with much lower rates.

According to John Burns Consulting, the United States is currently underbuilt by 2.1 million homes. To address this undersupply, approximately 1.86 million new homes need to be built annually through 2033 to accommodate growth.

There are conflicting signals in the multifamily residential sector. It's interesting to note that 85% of investment properties are owned by small investors, not institution investors.

In terms of regulatory changes, the NAR (National Association of Realtors) settlement is still subject to final court approval. Rules are expected to change by August 17th. In the meantime, transactions are happening as usual.

If you have any questions or require real estate resources, I am here to assist. Compass operates nationwide, and I am also connected to a National Professional Network that includes attorneys, CPAs, financial advisors, and more. I would be delighted to connect you with the appropriate professional for your needs.

My goal is to bring genuine care, outstanding real estate services, and significant value, in order to positively impact our communities and clients.

Below is an undersupply map provided by John Burns consulting.

Also stats for the last 13 months in Santa Clara and San Mateo counties.

Stats in other areas are available upon request.



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