Home sales, prices up in Bay Area in June
Posted on July 18, 2012 at 18:03 PM EDT
Home sales, prices up in Bay Area in June Home sales, prices up in Bay Area in June Bay Area home sales largely continued their upward trajectory in June, with both median price and sales volume increasing as distressed-home sales decreased, according to a real estate report released Wednesday. The median price for all new and resale homes throughout the nine counties in June was $417,000, up 10.4 percent from a year earlier, according to DataQuick, a San Diego real estate service. About half of the median's drop over the real estate downturn came from a different composition of homes sold (more low-end homes results in a lower median), while the other half came from a decline in home values, DataQuick said. Real estate agents continue to report that inventories are low in the Bay Area, which increases buyer competition and drives up prices.
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