Santa Clara, Santa Cruz, San Mateo Housing Market Update - October 2024
The Big Story Quick Take: Affordability improved dramatically in Q3 2024 with the monthly mortgage payment for a 30-year loan down 10%. Prices are contracting slightly, which is the seasonal norm. In September, the average 30-year mortgage rate declined for the third month to 6.08%, a 1.14% drop fr
Santa Clara, Santa Cruz, San Mateo Housing Market Update - August 2024
The Big Story Housing Market Seasonality vs. Expected Rate Cuts Quick Take: Nationally, home prices hit an all-time high in June 2024, and we estimate that prices may have bucked seasonal trends and climbed slightly higher in July.* In July, the average 30-year mortgage rate declined for the third
Santa Clara, Santa Cruz, San Mateo Housing Market Update - July 2024
The Big Story Median home price hits record high for the second month Quick Take: Since January 2024, prices have climbed 13.6%, reaching an all-time high in May and another in June 2024. Similarly, the monthly cost of financing has hit a record high, meaning that home affordability is at a
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