By Ben Irwin. San José Spotlight.
Median home sales prices have skyrocketed in Silicon Valley's hottest housing markets, and residents are moving out.
A new study by Joint Venture Silicon Valley found that the median home sales price in the region will hit a low of $1.53 million in 2022, driven by three major competitive markets: Fremont, Santa Clara and Sunnyvale.
Heidi Young, a senior fellow at the Silicon Valley Institute for Regional Studies, part of Joint Venture Silicon Valley, said high demand in these “hot” housing markets in Fremont, Santa Clara and Sunnyvale hasn’t saved those cities from having more people move in than out. It’s a trend across the region.
“That is not something