Think Nobody Is Buying Homes in Silicon Valley Right Now? Think Again

 

If you have been thinking about selling, it is easy to feel discouraged by the headlines.

You may be hearing that buyers have disappeared, homes are sitting longer, and the market is slower than expected.

There is some truth in that. The market is not moving at the pace we saw a few years ago. Mortgage rates are still higher than many buyers would like, and affordability is still a real challenge.

But slower does not mean stopped.

The latest data shows buyers are still active, and in some measures, demand is stronger than it was over the past couple of years.

 

Pending Sales Show Buyers Are Still Making Moves

One of the best ways to measure buyer activity is pending home sales.

A pending sale means a buyer and seller have reached an agreement, and the home is under contract but has not closed yet. It is a useful way to see whether serious buyers are actually moving forward.

NAR reported that pending home sales increased 3.8% in May 2026 compared with April and rose 4.8% compared with May 2025. Pending sales rose in every major region of the country.

That is important.

It means buyers have not disappeared. They are still writing offers when the home, price, and monthly payment make sense.

 

Buyers Are Adjusting to the Current Rate Environment

Many buyers spent the past couple of years waiting for mortgage rates to drop meaningfully.

But for some, life could not stay on pause forever.

People still relocate for work. Families grow. Households change. Some people downsize, move closer to family, or need a different layout.

NAR Chief Economist Lawrence Yun described the recent increase in contract signings as a sign of pent-up demand and buyer acceptance of mortgage rates above 6 percent as the new normal.

That does not mean buyers love today’s rates.

It means some serious buyers are deciding to move forward anyway because their life circumstances matter more than waiting for the perfect rate.

 

HousingWire Data Also Points to Resilient Demand

HousingWire has also been tracking pending sales as a real-time pulse check on buyer activity.

In mid-May 2026, HousingWire reported 430,175 pending single-family home sales, up 4.9% from one year earlier. For the week ending May 15, new pending single-family home sales were up 6.1% annually.

That is not a runaway market.

But it is a meaningful sign that demand is still present.

Buyers may be more selective, but they are not gone.

 

This Is Still a More Balanced Market

For sellers, this is encouraging, but it should not be misunderstood.

Buyer demand is still present, but buyers have more choices than they did during the most competitive years.

That means sellers cannot rely on old market conditions.

A home that is overpriced, poorly presented, or not aligned with current buyer expectations may sit longer. A home that is priced well, prepared thoughtfully, and marketed clearly can still attract serious attention.

The opportunity is there, but strategy matters.

 

What This Means for Silicon Valley Sellers

In Silicon Valley, buyer activity can vary widely by neighborhood, price point, property type, and condition.

A well-prepared home in a desirable location may still attract motivated buyers. Another home may need more careful pricing, better presentation, or greater flexibility around terms.

If you are thinking about selling, focus on the factors you can control.

• Price the home using current local data
• Prepare the home before it goes live
• Make the first impression strong online
• Understand competing listings
• Watch buyer feedback closely
• Be ready to negotiate when it helps the larger goal

Buyers are still out there. The question is whether your home is positioned to capture their attention.

 

What This Means for Buyers

For buyers, this data also matters.

If you assumed nobody else was buying, the pending sales numbers show otherwise.

There may be more room to negotiate than there was a few years ago, but good homes still move. Serious buyers are still active, and homes that are priced well can still generate competition.

The best buyer strategy is to be prepared before the right home appears.

 

Bottom Line

The housing market may be slower than many hoped, but it is not stalled.

Pending sales are up from last year, and serious buyers are still making moves.

For Silicon Valley sellers, that is encouraging. But success still depends on pricing, preparation, marketing, and local strategy.

If you are wondering whether there are enough buyers for your home, the answer is not found in national headlines alone. It is found in the current activity around your specific neighborhood, price point, and property type.