What a difference a day makes.

If last fall I had told my clients looking for homes in the wonderful mid-Peninsula city of Wonderfulville that prices would go up 10 percent as soon as January 1 rolled around, they would have been…skeptical. And I would have understood their…skepticism. But I would have been right.

“Prices are ridiculous.”

It’s likely that many of you who read my blog have arrived in Silicon Valley only recently, and don’t realize that the kind of housing market we’ve had here since late 2011 isn’t a fluke. It’s the kind of housing market Silicon Valley has had, more often than not, since I started selling homes in 1998.