Saving for a 20% down payment in California is a marathon, not a sprint—especially here in the Bay Area and Northern California communities I serve. With the median home price around $776,000 and median household income at about $106,000, it now takes the typical household nearly 15 years to save for that 20% down payment. For those earning minimum wage, it’s a 44-year journey, which really puts into perspective the challenges first-time buyers face in our region. Limited housing supply—shaped by geography, protected lands, and longstanding policies that restrict turnover—has only intensified these hurdles. Many buyers without existing equity are now focusing their searches inland, where prices are more accessible, though that often means longer commutes. Having helped hundreds of clients navigate these realities over my 20+ years in real estate, I know the importance of clear strategies and trusted advice. My role is always to help you make informed decisions in a tough market, so you can move forward with confidence and peace of mind.

Here’s a quick update on the San Jose real estate market. Homes are selling at a similar pace as before. The number of available properties and completed sales remain consistent with last year.

Recently, US new listings ↑0.4% and total homes for sale ↑0.5%, pushing both measures to their highest levels since Late-Q1 and Mid-Q2.
At the same time, pending home sales ↓1.1%, reaching their lowest point in 6 mo as buyers faced >$400K median prices nationwide.
Financing costs stayed in the mid-6%, only slightly below a recent peak, and some house hunters waited through economic uncertainty or hoped rates ease.
With inventory building and demand softer, active US buyers may find negotiating room, including price cuts, concessions, rate buydowns, or repairs on longer-listed homes.
An economist said buyers had a window before activity potentially picked up later in Late-Q3, while sellers benefited from pricing correctly from the start.

Lately, we’re seeing a subtle shift in the US housing landscape: new listings edged up 0.4% and total homes for sale rose 0.5% in the four weeks ending August 23—reaching their highest point since early Q2. At the same time, pending home sales dipped by 1.1% to a six-month low, a clear sign that higher housing costs are prompting many buyers to pause, even as inventory improves nationwide. The median US home-sale price increased 1.9% year-over-year, now topping $400,000, while average mortgage rates hover near 7%—close to a 13-month high.

For those actively searching, this environment is opening more doors to negotiate price reductions or concessions, especially on homes that have been listed for several weeks. Sellers who are realistic about pricing—rather than aiming for last year’s highs—are seeing more success in moving their properties. With over two decades serving Bay Area buyers and sellers, I’ve found that keeping expectations grounded and staying attuned to shifts like these is key to building trust and guiding clients confidently through each transaction.

Labor Day in the United States celebrates the contributions of workers everywhere, while also unofficially marking the final big summer weekend before fall takes over.
It’s known for backyard barbecues, road trips, and that classic tradition of buying things you didn’t know you needed because “it’s on sale.”
Beaches, parks, and grills reach peak activity as everyone tries to squeeze every last drop of summer fun out of the long weekend.
Happy Labor Day! Wishing you a fun, easygoing weekend filled with good vibes, great food, and absolutely no thoughts about Monday.

Research local schools even if you don’t have kids — they influence home values.
Consider internet availability and speed, especially for remote work or streaming needs.