fbpx
Whitelaw and Sons Real Estate Morgan Hill
reaching your real estate goals
Robert Whitelaw, Realtor®

Robert Whitelaw, Realtor®

Published:Jun 6, 2022

Born and raised in Silicon Valley, Robert has helped clients successfully buy, sell and invest in real estate throughout Santa Clara County. Robert uses his local market knowledge to help clients across Silicon Valley!

Is this change in home inventory just the first step toward a market downturn?

Increase in inventory is a good thing

All through this booming market, we have discussed the key elements that were causing prices to rise so quickly. Low inventory has been at the heart of those discussions and any move toward increasing inventory should bring more balance.

The national numbers are nothing compared to our local home inventory numbers!

Dramatic home inventory increases in Santa Clara County for May 2022.

Santa Clara County real estate numbers more than DOUBLED the home inventory increase that has been reported nationally.

Home price increases have slowed as well.

We are still seeing homes selling for over asking, but not as robustly as before. This change feels like the beginning of a shift that is also happening when the market is supposed to be reaching its peak for sellers.

Homes appear to be staying on the market.

What is interesting is that the number of new listings in May for Santa Clara County was on par with the national number. So that indicates that this increase is mostly homes listed in previous months that are still on the market. With home inventory now staying on the market longer, that can spell more opportunities for buyers.

Sources:

Weekly Housing Trends View — Data Week Ending May 28, 2022

I also promised you a look at the actual numbers from the MLS for Santa Clara county. Here they are for your review:

 

Check Out The Last Show!

pending sales numbers

Local Pending Sales Vs. National Pending Sales

The pending sales data we are seeing here in the Santa Clara County real estate market is a bit different than the national numbers. In todays show, we will take a look at this sale predicting numbers to see what is up.

Get Your FREE Home Value Estimate!

Just enter your address and get access to your instant home value estimate, but also amazing tools to evaluate refinance options, your equity, ways to levarage your homes equity, how to pay your home off faster… and so much more!

Schedule A Consultation With Robert!

 

Let's Talk About Achieving Your Real Estate Goals!

Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join to get access to the best information on our local real estate markets, important real estate news, insights, information and tips on how to realize your real estate goals!

You have Successfully Subscribed!

Pin It on Pinterest

Feel Like Sharing?

Share this with your friends and followers on social media!