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Living and working in the Bay Area for over two decades, I’ve seen firsthand how California home equity plays a major role in shaping household wealth. Recent figures put our state’s median home equity at $550K, while the median household net worth stands at $273.8K (after accounting for debts and non-housing assets). This highlights something many homeowners in our region experience: your home can represent significant equity—even if that wealth isn’t always reflected in liquid assets. High home values strengthen our market, but when most of your net worth is tied to your property, it can limit flexibility for other financial goals. As a Realtor and Broker focused on helping clients make informed decisions, I always encourage looking at the full picture—whether you’re considering refinancing, downsizing, or diversifying your assets. Understanding where your wealth sits is key to building long-term confidence in your real estate journey.

The California housing market is entering a new chapter of steadier growth, with home prices projected to rise at a modest pace—about 3% to 4% annually through 2028. For buyers across Northern California and the Bay Area, including communities like San Jose and Fremont, the increase in active listings to roughly 156,300 homes means more options and less pressure to make quick decisions. This growing supply is expected to continue building through 2027, offering a welcome shift from the urgency of recent years.

However, affordability remains a real challenge. Only about 18% of California households currently qualify for a typical mortgage, down from 31%, so entry-level homes are still highly competitive. Properties are generally selling at close to 100% of asking price, and 30-year fixed rates are holding near 6%—a pattern likely to persist for some time.

For those watching trends in major urban centers like Los Angeles County, it may take until after 2028 to return to previous sales activity levels. Across the state, though, we’re seeing signs of predictability and stability—qualities I always look for when helping clients make informed decisions. My focus remains on understanding each client’s unique needs, so you can navigate these evolving market conditions with confidence and peace of mind.

San Jose is on the brink of a significant transformation, with recently passed state legislation poised to reshape our skyline. As someone who has guided clients through the changing Bay Area market for over two decades, I’m closely following this development. The new law could allow San Jose—and six other major California cities—to build taller residential buildings, thanks to our status as a city with at least two transit stops and a population over 400,000. If signed by the governor, the city would need to create regional transit hub districts permitting residential buildings up to 150 feet, and in at least a quarter of those districts, up to 450 feet. This shift could open new opportunities for housing around transit, though it comes with potential new costs for the city and prompts a state study on housing finance. I’m always focused on how these changes impact my clients’ long-term interests and the unique character of our neighborhoods. As the Bay Area evolves, I’m here to help you navigate what these changes might mean for your real estate decisions.

We're seeing the U.S. housing market shift gradually, with active inventory up about 4% compared to last year. That growth has slowed for the first time in five weeks, which suggests a more balanced environment for buyers is emerging—though it’s happening steadily, not suddenly. Homes are spending an average of 61 days on the market, which is unchanged from a year ago and right in line with late-Q3 seasonality. New listings dipped by around 1% year-over-year, bringing us back to 2025 levels as affordability concerns continue to influence both buyers and sellers. The median listing price now sits at $419,000, down about 1% from last year, and median price per square foot has softened to $222, the lowest since early 2026. With inventory building and mortgage rates still high, we’re watching supply and demand tip further in buyers’ favor—but the pace remains measured, not rushed. Having guided clients through market cycles for over 20 years, I know that reading these subtle shifts can make all the difference when it comes to timing your next step.

As we look ahead to 2026, timing your home purchase can make a substantial difference. Drawing from over 20 years of experience guiding Bay Area buyers, I pay close attention to national market patterns that could benefit local clients. For those considering a move, the period from September 27 to October 3 is projected to offer a unique combination: a strong mix of inventory, less competition, and more time to make decisions. During this window, active listings could rise 31.9% compared to the start of the year and 13.3% above a typical week—broadening your options. Listing prices may be about 3.5% below the seasonal peak, which could mean savings of around $14,000 on a median-priced home of $416,000. Competition is expected to be 30.1% lower than the annual peak, with homes staying on the market about 64 days, allowing buyers to move at their own pace. Historically, when listings grow and demand softens in early fall, buyers gain both flexibility and negotiating power. For anyone planning to buy in the coming years, understanding these cycles is key to making informed, confident decisions.

San Jose’s journey toward greater housing affordability is a topic I follow closely, especially having worked with so many families across the Bay Area. According to recent metro affordability and homebuilding scorecards, our city still ranks in the F range among large US metros—reflecting ongoing challenges with affordability. Yet, one encouraging sign stood out: within that tough group, San Jose posted a comparatively stronger construction score. This matters, as these scorecards give equal weight to both affordability and new homebuilding, tying today’s buyer costs to tomorrow’s housing supply.

Optimism remains for our market. Continued construction could help ease affordability pressures in the future, even though we’re still in the lowest tier for now. For those of us passionate about expanding homeownership in San Jose, the lesson is clear: thoughtful policy—like more flexible zoning, streamlined permitting, and competitively priced new homes—can make a real difference. After more than two decades helping clients navigate Bay Area real estate, I’ve seen firsthand how these changes can open doors for more families. The path to affordable homeownership is complex, but with proactive steps, progress is within reach.