#housing-demand

#housing-demand

SAN JOSE Two eye-catching housing towers that would sprout atop the site of a San Jose parking lot have received final city approval in a fresh sign that developers continue to scout for ways to step away from office projects. The towers would produce 768 residential units at 35 South Second St. in downtown San Jose, according to the just-approved proposal that was submitted by global mega-developer Westbank, which has proposed several projects in the city's urban core.

Builders often talk about uncertainty as if it were a temporary fog that had to clear eventually. Rates will decline, the Fed will pivot, pent-up demand will return, migration will pick up again, and the longstanding pattern of structural underbuilding will resume. The idea that the industry's biggest risks come from the outsideand that the outside world and its cyclical forces will eventually save themhas been one of homebuilding's most persistent forms of magical thinking.

From January to June 2025, Beverly listings received 4.6 times more views per property than the U.S. average and sold in a median of just 16 days. The median listing price was $746,000, nearly 16% below the Boston metro's $855,000 median, giving buyers a price break without sacrificing proximity to the city.

The imbalance is likely to strain economies because fewer workers will be supporting more retirees, dragging down economic output and income growth.

The recent sale of a spacious 2,635-square-foot house on Contra Costa Road in Oakland highlights the ongoing demand for properties in this desirable area.