DID YOU KNOW? From a market stat standpoint. Santa Clara County has 1.1 month’s worth of inventory. This is down from 1.7 and 2.1 the prior two years. Percent under contract is at 43% which has been at 33.5% and 29.4% the two prior year. – today’s market
“Homeownership is a piggy bank like none other at this moment in time.”
– Susan Wachter, Wharton professor of real estate economics. (marketplace.org)
DID YOU KNOW? Almost 25% of the 100 largest U.S. cities changed from homeowner- to renter-majority between 2006 and 2016. However, homeownership rates across the US increased during the pandemic — up to 67.9% in the second quarter from 64.1% a year ago. (NAR)
DID YOU KNOW? Total deposits at U.S. commercial banks have swelled to about $15.9 trillion, up from about $13.2 trillion at the start of the year (up over 20%), according to the Federal Reserve. When will all this excess cash be deployed into the economy? Looking at the dreadfully low interest rates these deposits are earning – with inflation looming – one could be certain it’s not a matter of ‘if’ but rather ‘when’. (WSJ)
“The housing inventory has been so low for many years. Since 2018, we’ve been talking about how tight this housing inventory is, and that’s going to continue to help support housing prices and will help homebuilders.”
– Gina Sanchez, founder and CEO of Chantico Global and chief market strategist at Lido Advisors
Q3 2020 data in Santa Clara County shows that:
1. 4-bedroom House are most popular with median Sales price of $1.475m in Santa Clara County since the Pandemic;
2. 63% of the listings accepted offers in Santa Clara County in Q3 2020, increased by 15% compared with Q3 2019;
3. Statistics By Neighborhood in City of San Jose: Almaden is the most popular neighborhood;
4. Long-term Trend since Jan 1991 till now: It always bounced back and goes higher after a short recess;
5. It takes only 22 days for a house get sold in San Jose in Q3 2020;
6. Luxury Homes (sale price above 3 million) Demand Soars after Pandemic in Santa Clara County
