What is really going on in the Valley? I find that chosen graphs speak much better than headlines. Comparison of the first 5 months of last year, with the same months this year, for the Counties of Santa Clara and San Mateo:
This graph shows roughly the same movement as last year. If anything, it shows a better situation, since we do not have in 2011 the government incentives for 1st time homebuyers that we had in 2010 (Calif. 1st time homebuyers credits, and federal incentives). These created last year a rush to buy before June, which does not exist in 2011.
Comparison charts for Sunnyvale and Mountain View:
Thanks for reading!
Francis
Mortgage rates: Week ending 6/23/2011: - 30-yr. fixed: 4.50 fees/points: 0.8% - 15-yr. fixed: 3.69 fees/points: 0.7% - 1-yr. adjustable: 2.99% Fees/points: 0.5% (Source: Freddie Mac)
Silicon Valley real estate resource
Real estate links of interest
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