The headlines today about the Case-Shiller Housing Index do not reflect what is going on in the Silicon Valley market. Read the data from the actual Case-Schiller tables via this link. The bottom of the single family housing market for Santa Clara County is essentially March 2009. The data that was released today is about March 2011 - the Index has a two month lag time so that the data can be compiled. Seasonally adjusted index for the San Francisco region is 134, compared to two years ago of 121. We are significantly positive over the last two years. Also, consider that the data is for the SFO region which takes into account some more severely impacted areas of the East Bay. If the data were strictly for Santa Clara County, the numbers would be even better.
Now this is not necessarily a rah rah of the Valley - when considering a purchase or a sale of real estate, we want to take into account all the possible factors - it's not just about price!
