Housing costs still remain high, but the rate of appreciation is off its recent pace.
September sales of single-family homes were up a modest 2.3% — a far cry from the red-hot market of the last several years. And even more revealing, June-through-September sales for the nine-county region were down 5.1% from the same period of 2015, he reports as he digs into a new report from CoreLogic.
In Santa Clara County — the heart of Silicon Valley — the median price was frozen in place from the year before, at $910,000, and the number of sales declined a hair, by 0.3%. September sales dipped 4.7% in San Mateo County, while rising just 0.2% in Contra Costa County and 2.9% in Alameda County.