{"id":687,"date":"2021-03-10T11:03:43","date_gmt":"2021-03-10T11:03:43","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=687"},"modified":"2023-03-10T08:12:43","modified_gmt":"2023-03-10T08:12:43","slug":"san-jose-housing-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/","title":{"rendered":"San Jose Housing Market Trends &#8211; Winter 2021"},"content":{"rendered":"<h2>Slow Economic Recovery Sustained by Big Tech<\/h2>\n<p>Pandemic-induced woes have hit coastal California metros directly, with residents fleeing to more affordable cities, and Silicon Valley was no stranger to that. In metro San Jose, occupancy in stabilized properties dropped to 92.7% as of December, while rents were down 13.0% year-over-year through January, marking the largest drop in the country. However, signs that the market might have bottomed out are emerging: San Jose led the country for month-over-month growth in January, at 0.9%.<\/p>\n<p>The unemployment rate has been slowly recovering, clocking in at 5.2% in November, but December preliminary data pointed to a new rise, to 6.0%. Employment marked a 7.4% contraction in the 12 months ending in November, 20 basis points below the national rate. Although the metro\u2019s largest sector\u2014professional and business services\u2014rose 0.9% during the period, the tech sector alone won\u2019t be sufficient to keep the job market afloat. A rising number of companies announced relocations, including Oracle, which is moving its headquarters to Austin. Meanwhile, Google\u2019s plans for revitalizing the Diridon Station area remain on track.<\/p>\n<p>San Jose development continued, with 765 units delivered in January and an additional 10,481 apartments underway. Mirroring nationwide trends, investors expressed caution, with just $608 million in multifamily assets changing hands in 2020.<\/p>\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1221-MatrixMultifamilySanJoseReport-Winter2021?utm_source=Matrix-Blog&amp;utm_medium=Social\">Matrix Multifamily San Jose Report-Winter 2021<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Slow Economic Recovery Sustained by Big Tech Pandemic-induced woes have hit coastal California metros directly, with residents fleeing to more affordable cities, and Silicon Valley was no stranger to that. In metro San Jose, occupancy in stabilized properties dropped to 92.7% as of December, while rents were down 13.0% year-over-year through January, marking the largest [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,77],"class_list":["post-687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-san-jose"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Jose Housing Market Trends - Winter 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"San Jose rents continued to slide, down 0.9% on a trailing three-month basis through January to $2,545, and included heavy concessions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Jose Housing Market Trends - Winter 2021\" \/>\n<meta property=\"og:description\" content=\"San Jose rents continued to slide, down 0.9% on a trailing three-month basis through January to $2,545, and included heavy concessions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-10T11:03:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:12:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Jose-iStock-1210434528.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Jose Housing Market Trends - Winter 2021 - Yardi Matrix Blog","description":"San Jose rents continued to slide, down 0.9% on a trailing three-month basis through January to $2,545, and included heavy concessions.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/","og_locale":"en_US","og_type":"article","og_title":"San Jose Housing Market Trends - Winter 2021","og_description":"San Jose rents continued to slide, down 0.9% on a trailing three-month basis through January to $2,545, and included heavy concessions.","og_url":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-03-10T11:03:43+00:00","article_modified_time":"2023-03-10T08:12:43+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Jose-iStock-1210434528.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"San Jose Housing Market Trends &#8211; Winter 2021","datePublished":"2021-03-10T11:03:43+00:00","dateModified":"2023-03-10T08:12:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/"},"wordCount":218,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Jose-iStock-1210434528.jpg","keywords":["Multifamily Outlook 2021","San Jose"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/","url":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/","name":"San Jose Housing Market Trends - Winter 2021 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Jose-iStock-1210434528.jpg","datePublished":"2021-03-10T11:03:43+00:00","dateModified":"2023-03-10T08:12:43+00:00","description":"San Jose rents continued to slide, down 0.9% on a trailing three-month basis through January to $2,545, and included heavy concessions.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Jose-iStock-1210434528.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Jose-iStock-1210434528.jpg","width":1200,"height":628,"caption":"Image by gangliu10\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-winter-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"San Jose Housing Market Trends &#8211; Winter 2021"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Jose-iStock-1210434528.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=687"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/687\/revisions"}],"predecessor-version":[{"id":4506,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/687\/revisions\/4506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/688"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}