All about Life & Real Estate in Silicon Valley – Broker Michael Koo's Blog.

Younger Americans increasingly viewed homebuying as harder than it was for their parents, and many no longer saw ownership as the main path to wealth.
Current-year buying still skewed older nationwide: boomers held the biggest buyer share, while millennials slipped and Gen Z remained only a small slice.
Tight starter-home inventory and higher costs kept many first-time buyers sidelined, as smaller homes stayed scarce and much of the market offered larger houses.
By Late-Q2, the US median price reached ~$409K, while 30-yr mortgage rates hovered in the mid-6% range in Early-Q3 for buyers nationwide.
Many younger adults were delaying ownership, leaning on retirement accounts, and using creative entry strategies like shared housing, with experts saying homeownership was shifting later.

Across the US, rising housing inventory has shifted leverage toward buyers, giving purchasers more room to negotiate and helping families pursue stronger residential deals.
Experts said more listings created seller competition, while a trade group reported greater flexibility in counteroffers, giving buyers added negotiating openings in current market conditions.
Industry statistics showed inventory exceeded previous-yr averages, letting households compare dozens of homes before deciding and making careful review of financing terms especially important.
Common guidance included technical inspections, repair requests, mortgage pre-approvals, slightly below-list initial offers, and negotiating closing concessions where sellers cover some administrative fees.
Analysts are tracking mortgage-rate changes ahead of fall, while associations circulate market indices so buyers can plan strategically, avoid overpricing, and reduce financial risk.

California's strongest value often sits inland, where Central Valley, Inland Empire and Far North communities pair lower housing costs with manageable living expenses and jobs.
Bakersfield stands out for first-time buyers, with median home prices in the low-$400K range, plus parks and steady work in agriculture, energy and healthcare.
Fresno and Chico offer affordable housing with different lifestyles: Fresno adds healthcare, agriculture and food processing jobs, while Chico brings outdoor recreation.
For buyers focused on budget, inland California generally offers the best value, but comparing property taxes, homeowners insurance, job markets and healthcare access remains essential.
Eureka, Ridgecrest, Susanville and other Far North or desert communities can stretch budgets further, especially for buyers willing to trade shorter commutes for savings.

California stood out as a place where $1M in retirement savings may not stretch far, driven by steep housing costs and high living expenses.
Housing carried much of the pressure, with California's avg. home price ~$775K, a level that can quickly reshape retirement budgets and downsizing decisions.
California also taxes many forms of retirement income, adding another layer of strain for some households already balancing housing, health care, and daily expenses.
For retirees, that mix meant a $1M portfolio would likely be depleted years sooner in California than in lower-cost states with lighter expenses.
For Californians still planning ahead, using state-specific projections and considering downsizing, relocation, or a later retirement could help savings last meaningfully longer.

San Francisco-Oakland-Fremont returned to the top 10 most expensive luxury metros in the current ranking after Santa Rosa-Petaluma fell below the 500-listing threshold.
Some market watchers tied renewed high-end demand to equity gains among Bay Area tech workers, suggesting wealth creation may be supporting luxury activity.
Even with that high-end demand theme, pricing across the broader San Francisco-Oakland-Fremont metro remained ↓~7% yearly, showing softer conditions beyond the top tier.
Within the Bay Area, San Jose-Sunnyvale-Santa Clara posted the steepest yearly pricing decline among the priciest luxury markets, with prices ↓~12% recently.
For Bay Area clients, the luxury story centered on wealth-driven demand rather than vacation scarcity, helping explain why select metros stayed in elite price tiers.

Santa Clara County’s taxable property base reached a record $760.1B for fiscal 2026-27, ↑$34.4B, as resilient home values offset overall commercial weakness.
Ownership changes supplied ~50% of the yearly gain, and residential transactions generated ~80% of transfer-related value, underscoring housing’s importance to county tax revenue.
New construction added $4.9B, a bright spot below historical expectations, as several major development projects across Santa Clara County remained delayed recently.
Commercial pressure persisted: office vacancy stayed near 20% for a third yr, with $153.6B under appeal and 24.7K properties in decline-value status.
The county expects more commercial assessment appeals in the current year. The assessor also expressed long-term confidence, while ~50% of tax revenue supports schools.