In the first and second quarters of 2022 Cupertino house prices reached an all-time high as buyers purchased before an expected interest rate increase. Prices then dropped until the first quarter of 2023. Then, even during a year of interest rate increases, house prices have risen from their fourth-quarter 2022 low back to their all-time high in Cupertino. Cupertino real estate and Saratoga real estate are showing the greatest recent strength in Silicon Valley.
The Silicon Valley real estate market is surprising many with its strength. High interest rates discourage new construction. Many buyers are predicting that now is their best time to buy.