Home Prices Expect to Continue Rising Over the Next 12 Months

Front 6 The expectation for Federal Reserve to increase Fed Fund rate in December is getting higher. The question in many home buyers and sellers’ minds is what the housing price will head once the rate starts to increase. The leading global property information, analytics and data-enabled solutions provider CoreLogic forecast is for prices to continue to rise over the next 12 months but for the pace to slow to 5.2 per cent price increase nationwide.

Home prices increased by an average 6.8 per cent in the year to October 2015 according to CoreLogic.

“Many markets have experienced a low inventory of homes for sale along with strong buyer demand, which is sustaining upward pressure on home prices. These conditions are likely to persist as we enter 2016,” said Dr. Frank Nothaft, the firm’s chief economist.

Anand Nallathambi, president and CEO of CoreLogic added: “As we move forward, the rise in home prices will need to be better correlated to family income trends over time to avoid homes becoming unaffordable for many. This is especially true in several metropolitan areas where home prices have grown rapidly.”

For California housing market forecast and Santa Clara County real estate statistics, check our latest market trend report

If you need a personalized consultation, please contact us at 408-799-2558.

Santa Clara County July 2015 Real Estate Market Trend Report

Silicon Valley Housing Sales Chart As of July 2015

Our latest market trend report was released. Santa Clara county’s median home price hit $1,000,000 and average home sales price is over $1,300,000. Home sales volume rose slightly while the inventory continues to fall.

Meanwhile, mortgage rate is inching up with 30 year fixed rate at around 4.125%.

Go to our market trend page to see more details. You can also get the complete report by email

Recently Sold in North San Jose

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Share with my readers houses that I recently sold in North San Jose neighbors. Even in this hot market, you need to work hard to sell a house at a top record high price for my seller and there are still opportunities to find houses for my buyers with good value.

2017 Agave Way, 2 bedroom, 2.5 bath room townhouse,  I listed at 648,000. Sold with 6 offers well over listing price.

1191 Aschauer Court, 4 bedroom, 2.5 bath room Single family house with a size of 1802 sqft and a lot of 3485 sqft, listing price at 799,888. I am representing buyer and helped my buyer sealed a good deal at the listing price. Will close soon. Exact same layout same size house sold at 850,000 last year already.

1539 Goody Lane, 4 bedroom, 3 bath room attached single family house  with 1 bedroom and 1 full bath room on the first floor. 1629 sqft living and 2614 sqft lot. Seller put $40,000 upgrades. I helped my buyer negotiated a nice price of $820,000 for this one too. A great value for my client as the one on 1568 Theo Drive , San Jose 95131 which has only 1 car garage with 1 car port with a much smaller size of 1493 sqft just closed at $806,000.

1121 Homer Common, 3 bedroom, 2.5 bath room townhouse. I sold it at a new record high at 786,000. Last one like this sold by others in the same complex was not even reach 700K a few months ago.

1794 Camino Leonor , 2 bedroom, 2.5 bathroom townhouse style condo, I sold it at $675,000 with five offers.

 

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