Silicon Valley's big tech profits have helped keep home prices -- and demand -- strong in the San Jose metro area over the past year.
"There's a lot of cash in the Valley," said Carl San Miguel, president of the Santa Clara County Association of Realtors. "About 10% of offers are all cash, and most of the others are big down payments, 40% to 60% cash."
The median listing price of homes in San Jose rose nearly 29% to $607,000 over the past 12 months.
And supply is very limited. The area has one of the smallest inventories of unsold homes in the country, down more than 56% from February 2012, according to Realtor.com.
