Cupertino real estate market

Cali Mill Plaza in Cupertino, California.
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The Cupertino real estate market is closely linked to the rest of the Bay Area’s economic fortunes. According to a February 19, 2010 article in Business Week, “Home sales in the San Francisco Bay area dipped more than usual last month, and median prices are down from December, suggesting the market has lost some of the momentum it gained in the second half of 2009, according to a real estate tracking firm.” The piece, composed by Evelyn Nieves, continued to say that “San Diego-based MDA DataQuick reported Thursday that home sales dropped by 38 percent from December in the nine-county Bay Area. A decline in sales from December to January is normal for the season, but on average, sales have dropped 28 percent, the firm said.”

Cupertino homes for sale also faced a decline in sales volume, according to a February 19, 2010 article in the San Francisco Chronicle. The piece found that “The Bay Area housing market lost some of its 2009 momentum in January, according to an authoritative real estate report, but prognosticators do not necessarily see a shift toward slower sales in 2010.” The article, written by Robert Selna, continued to say that “Data analyzed by MDA DataQuick, a San Diego research firm, show that 4,853 new and resold houses and condominiums closed escrow in the nine-county Bay Area last month. That represented a decline of 38 percent from December and a 4 percent drop from January 2009.”

The Cupertino real estate market also faced a foreclosure problem in the early portion of 2010, according to a February 17, 2010 article in the Mercury News. The piece found that “After taking a break for the holidays, foreclosures spiked in Santa Clara and San Mateo counties in January. Despite efforts by the federal government and lenders to help people stay in their homes, foreclosures rose 37 percent in Santa Clara County last month from December, and 71 percent in San Mateo County, according to a report Tuesday from ForeclosureRadar.” The article, written by Sue McAllister and Pete Carey, continued to say that “In another sign that housing woes are far from over, more homes are lingering in the foreclosure process…”

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