Bay Area Housing Market Update: Post-Election, What’s Next for Home Prices?

In this video, I provide an update on the San Francisco Bay Area housing market, also known as "Silicon Valley." Looking at the key real estate market indicators for Santa Clara and San Mateo counties, the market was relatively stable in October 2024.

The median home sale price climbed a bit to $1.95M, and inventory dropped back down from 1.7 months to 1.3 months. With the presidential election behind us, the stock market had a strong week, with the NASDAQ 100 index jumping about 5% for the week ending November 8, 2024.

Mortgage rates have been on the rise despite the Federal Reserve cutting interest rates by a quarter point this week. As of November 7, 2024, the 30-year fixed rate mortgage was just under 6.8%.

What does the future look like for the Silicon Valley real estate market? In the past, we have observed some correlation between tech stocks and housing prices in the Bay Area since many residents work in the tech sector. While many factors can affect Bay Area home prices, when tech stock prices are up, home prices also tend to go up.

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🏠Go to the link below to get the free Buyer’s guides, the Seller’s guide and/or the market update slides presented in the video:
https://bit.ly/svlivingrealestateguides

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I’m Philip Ma, a real estate agent based in the San Francisco Bay Area, also known as “Silicon Valley.” Whether you are looking to buy or sell a home here, I am ready to help you with real estate knowledge, resources and white glove service.

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CONTACT ME to book a free consultation on selling or buying a home in the Bay Area.

📲Call/Text: 650-264-9193
✉️Email: philip.ma@exprealty.com
🖥️Website: www.svsellingsolutions.com

📆Click below to book a 30-minute meeting:
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Видео Bay Area Housing Market Update: Post-Election, What’s Next for Home Prices? канала Silicon Valley Living 101