Below is a snap shot of where the Santa Clara market stands at the end of August. It’s been a great year for home owners so far that have seen home prices increase around 15%. This is what the government is implementing in their QE efforts to try to get asset prices back up, it seems to be working.

Partly to blame has been inventory levels this year that have been consistently low. We are finally starting to see increases in the number of homes available. A sign that buying activity is not keeping up with selling and will likely lead to a more even market in weeks to come.

The market idex is also starting to trend down from what was a sharp upturn that started earlier this year, another indicator that the market is indeed cooling in terms of offers and buyers.