San Jose, CA 95110 housing market

What this means

• Valuation. Prices are 13% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are down 2.2% over the past year (U.S.: +1.2%), 15% below their 2022-23 peak.
• Supply. There are 139% more homes for sale than the 2017-19 norm and rising (+74% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is moderate (61/100; U.S.: 54): homes typically sell at or above asking (100.9% of list); 46% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 44% of the median household income (U.S.: 35%); it takes about $193k a year to keep the payment at 30% of gross pay. That includes about $1,514 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Buying costs about $1,508/mo more than renting a typical home (mortgage payment vs. typical rent).
• Disaster risk. FEMA expects about $452 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from earthquakes. Earthquakes aren't covered by standard homeowners insurance.
• Outlook. No clear direction: likely −9% to +7% over the next 12 months (49% chance of a rise).

Next 12 months

No clear direction

A fall is somewhat more likely than a rise, but not by enough to call. Likely change: −9.4% to +6.9% (80% range; middle estimate −0.1%), chance of a rise 49%, of a 5%+ drop 22%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

Other ZIP codes in Santa Clara County, CA