Home sales are up while supply remains contracted, a new report from the National Association of Realtors indicates. Encouraged by a more stable job market and better interest rates, more potential renters are scouring the market for what appears to be fewer homes. The Bay Area is expected to see an increase in new jobs but less of an increase in available living spaces, driving up rent and making rental properties harder to find. And right now, interest rates are topping 4.15 percent.
Be Prepared to Look Hard for the Right Silicon Valley Real Estate
If you’re thinking about investing in your first Silicon Valley property, consult with your financial advisor about your options. It’s the end of 2016, and there are fewer than 1.9 million homes for sale across the country, down over 9% from the past year, and the supply is only enough to fill a four-month need.
It’s getting increasingly difficult to find brand new Silicon Valley real estate for sale. High density housing and new townhome construction isn’t replacing low-density or older housing at a very fast pace, so buyers are left with a small market of mostly single family dwellings. But we can help potential home buyers navigate a tightening market in their search for their dream Silicon Valley property.