San Jose is the nation’s hottest housing market in 2018, Zillow says

South Bay
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Maybe you thought it couldn’t get any worse — that housing prices would finally cool off in 2018 after years of record-breaking appreciation.

Think again. A new report from Zillow projects that the San Jose metropolitan area will be the hottest housing market in the nation in 2018, with home values rising dramatically: another 8.9 percent on a year-over-year basis. The San Francisco metropolitan area, which includes the East Bay, will be the fifth hottest market with a 3.8 percent increase in home values, according to Zillow’s new report.

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In the San Jose metro area, which includes Santa Clara and San Benito counties, the median rent is $3,514 and is predicted to fall 0.5 percent year-over-year. The area’s unemployment rate is 3.5 percent, while income growth is 7.9 percent and the number of job openings per person is 0.036, the highest on the list.

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In the San Francisco metro, Zillow said, the median rent is $3,413 and will slip 0.2 percent year-over-year. The unemployment rate, as in San Jose, is 3.5 percent. Income growth is even stronger — 9.2 percent — and there are 0.029 job openings per person.

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San Jose household income grows 7.9% a year? We need to buy SJ immediately.

What’s the income growth in SF and SM county?

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If you weren’t blind, you would have read me begging you to invest in San Jose.
And since ESJ is the only cheap place left, go ahead, blame me. :smile:

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A friend of mine just bought in Little Saigon. Wells Fargo’s appraisal was 30k short. Price has been going up too fast for the banks to follow.

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I participated on that joke some realtor used to make of the buying process. He would literally make us to bid on that house. Sold for $325K. It may be in the $1M right now.

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when was that?

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2011