Real Estate Roundup: San Jose Is Now America’s Hottest Housing Market

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. SAN JOSE OVERTAKES VALLEJO AS THE NATION’S MOST IN-DEMAND REAL ESTATE MARKET Rising prices, a brisk pace of sales, and declining inventory characterize the U.S. housing market as fall begins, with three Bay Area cities again ranking as the nation’s most sought-after places to call home. Realtor.com’s latest monthly list...

Kitchen Renovations Offer Homeowners the Largest Returns

Nationwide, a complete kitchen renovation nets a return on investment of 62 percent when a home is sold. In the San Francisco and San Jose metropolitan areas, kitchen remodels return more than 100 percent of their costs at the time of sale. Kitchen overhauls and upgrades are the two home-renovation projects that appeal most to prospective homebuyers. Homeowners who are tackling a few remodeling jobs...

Bay Area Pending Home Sales Nearing Year-Long Slide

U.S. pending home sales dropped by 2.6 percent in August from one year ago. California pending home sales declined by 3.5 percent year over year. In the nine-county Bay Area, pending home sales decreased by 11.6 percent from last August, the 11th straight month of annual declines Pending home sales declined nationwide, in California, and in the Bay Area in August, once again the result...

The Bay Area’s Economy Grew at the Strongest Rate in the Nation in 2016

At 5.2 percent, the Bay Area’s¹ gross domestic product (GDP) grew at the fastest rate in the nation and among California metropolitan areas in 2016, according to the U.S. Bureau of Economic Analysis Gross Domestic Product by Metropolitan Area 2017. The Bay Area’s GDP grew three times faster than the national rate of 1.5 percent and twice as fast as the state rate of 2.9...

Bay Area Residents Are Among the Nation’s Least Stressed

Fremont, San Jose, and Santa Rosa rank among the top 20 U.S. cities with the lowest stress levels. Four Bay Area cities count among the nation’s five healthiest. The main source of stress for Bay Area and California residents appears to be affordable housing. The entire Bay Area is known as a laid-back place to call home, but one East Bay city has earned the...

Real Estate Roundup: Home Price Growth Projected to Slow in 2018

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. MODEST HOME SALES, PRICE GAINS EXPECTED NEXT YEAR The national housing inventory crunch is not expected to ease in the coming year, though more new homes should help spur a slight uptick in sales. In its 2018 Outlook, Freddie Mac projects 6.30 million home sales in 2018, up from an...

U.S. Home Prices Up, Sales Down in August

The national median home sales price was $253,500 in August, marking the 66th straight month of annual appreciation. Inventory declined year over year for the 27th straight month. Homes continue to sell fast across the country and in the Bay Area. Four major trends persisted for the national housing market in August: rising prices, declining inventory, slowing sales, and strong buyer demand. That’s according to...

Millennials’ Student Debt Is Larger Than Their Incomes

More than 80 percent of millennials surveyed say student loans are preventing them from buying a home. The average millennial owes $2,400 more on student loans than they earn per year. Debt is also affecting millennials’ career and relationship choices, as well as their ability to save for retirement. Lingering student loans are causing younger Americans to make important life sacrifices, including postponing a home...

California, Bay Area Inventory Continues to Shrink in August

The median sales price for a single-family home in the nine-county Bay Area was $856,200 in August, an annual gain of 10.2 percent. Eight of nine Bay Area counties posted home price gains from one year earlier. Inventory dipped both statewide and in all nine Bay Area counties from August 2016. The number of homes for sale declined statewide and in every Bay Area county...