Are Closed Campuses Affecting Home Prices?

With many college campuses either closed or partially closed, there are fewer renters near the campuses. Has the decrease in rental demand tipped demand for owning homes in those locations?

Our MLS does not define a mostly residential neighborhood adjacent to San Jose State University, so it is not easy to look for any trends there. Looking at Zip Code 95112 and trying to compare it to San Jose citywide trends also does not show any obvious change in ownership desire.

San Jose House prices per sq.ft.
Zip Code 95112 House Prices per sq.ft.

Stanford University is adjacent to the Palo Alto College Terrace Neighborhood. Many of the Stanford students and even visiting professors rent a place to stay, near the campus.

Palo Alto College Terrace House Prices per sq.ft.
Palo Alto College Terrace Condo Prices per sq.ft.

The typical volatility in the average prices could be masking a slight change but it does not appear that property owners near Stanford University have changed their minds about owning the property.

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