Silver Creek Valley Homes For Sale | Supply & Demand Will Determine Future Home Values
There's is an abundance of open space, hiking trails, great schools and charm. Locals know that Silver Creek is a great place to raise a family.
While some people may say that the area is energized by new growth and rapid changes, Silver Creek value comes from its welcoming warm atmosphere, where neighbors participate enjoying various spectacular amenities enjoying a great convenient location.
All great neighborhoods have this in common. Pride in ownership is obvious when the residents, whether renters or owners, maintain their homes and care about their neighborhood. Neighbors participate to connect and create local groups that bring the residents together for the betterment of the area.
Connect with the past, present and future in Silver Creek Valley, one of the most charming neighborhood you'll find in the San Jose area.
Every home buyer has a wish when looking for a home, while not all of them are granted, the ‘feel good magic’ happens when they start seeing homes around neighborhoods of this beautiful valley.
Is the people what makes this place a little different from others, It's a great place to live.
Neighbors welcome you with open arms and share indiscriminately the beauty and charm that Silver Creek has to offer.
Today I would like to point out specifically about Supply & Demand Will Determine Future Home Values
Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as:
“The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”
When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the number of available listings) had decreased as compared to last year. However, a recent report by the National Association of Realtors (NAR) revealed the first year-over-year increase in supply in three years.
Here are the numbers for supply and demand as compared to last year since the beginning of 2018:
The increase in the June numbers doesn’t mean that prices won’t continue to appreciate. In that same report, Lawrence Yun, NAR’s Chief Economist, explained:
“It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels.
Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.”
The reason home prices are still rising is that there are many purchasers looking to buy but very few homeowners ready to sell. This imbalance is the reason prices will remain on the uptick.
“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”
“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”.
We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.
Give us a call at 408–741–9300 before buying or selling your next home.
Don Orason, Owner — Silicon Valley Real Estate Team