Do you know the way to San Jose? Better bring a million bucks with you.
The 1968 hit song sung by Dianne Warwick sold more than a million copies. Had you found your way to San Jose back then, and bought a home, you’d have a million bucks in your pocket right now.
According to the San Francisco chronicle, the San Jose metropolitan area could be the nation’s hottest housing market this year, as buyers seek more affordable prices near high-paying jobs at Silicon Valley companies. According to CoreLogic, home prices in Santa Clara county, south of San Francisco, hit a record one million dollars in December, up twenty four percent from a year ago, proving companies such as Google, Facebook and Apple are helping reward home sellers as well as stockholders.
Redfin predicts nine of the ten hottest neighborhoods in the nation this year will be in or near San Jose, with homes sold the day they go on the market, often above asking price, and with multiple offers.
The way to San Jose is paved in gold.
About Brian
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
