News about Silicon Valley business almost everyday.
The median home sale price rose 14.6% year over year to a new all-time high of $361,171 during the four-week period ending December 26, according to a new report from real estate brokerage Redfin. This comes as the number of homes for sale fell to a record low. New listings and pending sales both dropped to their lowest […]
South Lake Tahoe is real estate site Zillow’s most popular place of 2021, leading a West Coast near sweep of the most in-demand places of the year, including the most popular vacation town, beach town and small town. Based on Zillow page-view traffic, available housing inventory, price appreciation and other housing barometers that indicate consumer demand, […]
SANTA CLARA — Americans will have a better chance to find a home in 2022, but will face a competitive seller’s market as first-time buyer demand outmatches the inventory recovery, according to the Realtor.com 2022 Housing Forecast. The median home price is expected to rise 2.9% next year but rents are projected to go up even higher […]
GILROY — KB Home has announced the grand opening of Ascent, a new, townhome-style condominium community in the highly desirable Glen Loma Ranch master plan. Ascent is situated in the foothills of Gilroy, just off US-101 and about 30 miles south of San Jose, providing access to Silicon Valley’s major employment centers. The new community […]
SANTA CLARA — New housing data shows 2021’s feverish home sales pace broke a yearly record in October, even as fall sales activity followed steadier seasonal patterns. With last month marking the eighth straight month of buyers snatching up homes more quickly than the fastest pace in previous years and fewer new sellers entering the market than […]
Healthpeak Properties, Inc. has unveiled the initial phase of its Vantage campus for life sciences in South San Francisco following strong leasing activity and demand at The Shore at Sierra Point and Nexus on Grand. The project (rendering above) is expected to break ground in the fourth quarter of 2021 with an anticipated completion in […]
SAN JOSE — Urban Catalyst has submitted a formal application this week with city planning officials for a 497-unit housing development in downtown San Jose, in partnership with local architect and entrepreneur Thang Do, CEO of Aedis Architects. The Apollo project (rendering above) will bring an 18-story residential high rise to 32 Stockton Ave., at […]
SANTA CLARA — From Broadway lights to bustling offices, big cities are back – and so are surging downtown rental prices. Following sharp declines during the pandemic, September data shows rents in the 10 biggest U.S. tech cities like Austin and New York surpassed March 2020 levels by an average of 6.3%, according to the Realtor.com Monthly Rental Report. Nationally, rents grew […]
California home sales closed out the third quarter by reversing a four-month decline and posting the largest monthly increase in more than a year, according to a monthly report for September by the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.). Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of […]