How Was 2020 In Real Estate?

 How was 2020 in Real Estate?

Well, one graph says it all.  A lack of inventory shaped the landscape last year, pretty much everywhere.  And the current trends continue upwards as of March 2021.

Click on the graph to see larger.
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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

New on the market:  Stunning Loft near downtown San Jose - 350 E. Mission St. #111

Young Adults Living at Home Are Saving for Down Payment

Young Adults Living at Home Are Saving for Down Payment.

One of the biggest barriers to homeownership for first-time home buyers has been saving for a down payment. But young adults who moved back home during the pandemic—and kept a job—are finding that homeownership may be within reach, according to a new report from realtor.com®.

Realtor.com® analysis shows home ownership may be within reach for young people able to channel would-be rent into savings
-- Based on U.S. median one-bedroom rent, it would take 11 months to save for a 5% down payment for the median priced home in the U.S.
-- Eleven months of rent savings is enough to accumulate a 5% down payment for a $327,000 home in Chicago
-- It takes the longest -- nearly 22 months of rent savings -- to save for a 5% down payment for a median priced home in Los Angeles.

Check out the article on this link.

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

Pending: fabulous 1 Bedroom for sale in Mt View - Los Altos Schools - www.49ShowersA238.com 

The Most Commonly Delayed Home Repairs

 The most commonly delayed home repairs

Source: Sears Home Services
Seventy percent of homeowners of about 1,000 recently surveyed say they have delayed home repairs since the start of the COVID-19 pandemic, according to a new report from Sears Home Services. Some consider those home repairs “critical,” too. Furthermore, nearly 60 percent of homeowners surveyed say they felt it’s acceptable to put off critical home repairs in the pandemic.

Many homeowners may be delaying home repairs due to their finances, the survey finds. Homeowners under financial stress are the most likely to report postponing repairs to broken appliances (34%), water damage (31%), electrical issues (30%), and roof repairs (29%), according to the survey. These postponed repairs, however, could result in pricier fixes later on or even dangers.

 

To see the whole report click here.

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

Fabulous 1 Bedroom for sale in Mt View - Los Altos Schools - www.49ShowersA238.com 

Fierce Competition Continues in California Housing Market

 Fierce Competition Continues in CA Housing Market 

The California housing market is red hot as the year comes to an end. The state has already recovered all the sales it lost in the first half of the year as insatiable housing demand in recent months has propelled sales to levels not seen in the past 15 years. Sales of existing single-family homes surpassed the 500,000 benchmark for the first time since January 2009, while year-to-date sales through November exceeded last year’s level for the first time since March and recorded an increase of 1.3 percent from 2019.    

On the supply side, levels of for-sale properties remained extremely low, with active listings declining 18 percent in November 2020 from the prior month and 46.6 percent from a year ago. The unsold inventory index, in fact, reached the lowest level in over 16 years. The surge in Coronavirus cases since late October likely played a role in the biggerthan-normal drop in active listings this year as many homeowners have been reluctant to put their house up on the market because of public health concerns.  

Click to see the full Jan.1 report.

If you like my updates, subscribe to my Blog!  Thank you for reading,

Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

Fabulous 1 Bedroom for sale in Mt View - Los Altos Schools - www.49ShowersA238.com