Reported 6 months ago
The Silicon Valley luxury home market is experiencing a surge in sales of homes priced at $5 million or more, particularly in Santa Clara County, amid the booming AI industry and record highs in the Nasdaq. The success of tech companies, especially in AI, is contributing to the increase in home prices, with local analysts attributing the trend to the rise in household wealth from stock market gains. Luxury homes are in high demand, with properties selling quickly and often above asking price, reflecting the impact of the tech industry on the real estate market in the Bay Area.
Source: YAHOO