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

Robert Whitelaw, Realtor®

Published:Aug 1, 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!

Home price drops are now defining our local markets in Silicon Valley.

Price drops are now appearing at every price point!

As this situation has progressed, we were seeing mostly homes at the higher end being effected. Now, we can see this trend of home price drops hitting home prices at levels even below average price.

What does this mean for real estate?

Increasing Buyer power.

Each day that passes we see prices and market conditions moving toward favoring buyers. These home price drops look like they are just the beginning of a continuing trend for our market.

What does that mean for our markets?

More inventory will come.

Each week we are seeing more homes coming onto the market and staying there.

Prices or at least how much they increase is going to drop.

This is already happening. From slowing increases, prices dropping year over year – we are seeing a fundamental pivot in the market.

 

 

Check Out The Last Show!

California deficits and taxes

California 2024 Deficits, Taxes

As California faces huge deficits in 2024, Sacramento appears to focus on more taxes rather than more responsible spending. In fact, it looks like they are setting thing up to attack Prop 13!

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