City of San Jose, CA
San Jose is the largest city in South Bay consists of different demographics with a total population of 1,000,000 residents. Before the Great Recession it enjoyed having lots of career opportunities with low unemployment of 5%. During July 2009 the city has 12.5% unemployment and ~5.5% home mortgage default as lenders were unwilling to sort issues out.
The home price erosion lasted 44 months! The price took off briefly two times from government rescue with incentives and rebates from President Bush and Obama (April 2009- Feb 2013).
With more employment opportunities (9% unemployment) people were more confident about employment and start buying homes. Since many companies are hiring, the construction and service industry cannot find enough skilled workers. We have a low
San Jose City |
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1300-2000 sf |
3 br, 2 bath+ |
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$/sf |
av g sold $ |
Months downturn |
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10 yr price change |
119% |
120% |
during Great Recession |
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44 months |
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5 years |
161% |
154% |
23,951 homes |
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3 years |
152% |
152% |
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last yr-2015 |
111% |
112% |
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baseline |
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2005 |
$451/sf |
$715.7M |
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2015 |
$535/sf |
$858.4M |
1300-2000 sf 3-4 Br, 2+ bath SFH
Sam Shueh Realtor
I've called San Francisco South Bay home for over 37 years. We love this area and all it has to offer, and I enjoy sharing what I know about homes. I documented in several books about Silicon Valley history. I have much expertise in real estate...please give me a call. SamShuehRealtor at Gmail
(Four-O-Eight) 425-1601 http:/SiliconValleyRealtors.info/
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