Our local real estate market started off “on fire” in 2022. However, rising interest rates, declining tech stocks, and looming layoffs cooled off the market in the second half of the year. On a Price per Square Foot ($ / SF) basis, Los Altos, Mountain View (South of El Camino), and Sunnyvale (Zip Code 94087) declined 14%, 7%, and 13%, respectively.
What Happened in 2022???
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[Source: REIL.com]