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Thursday, April 12, 2007

DataQuick on Bay Area, CA: Home prices up, Sales Still Slow

by Calculated Risk on 4/12/2007 05:53:00 PM

From DataQuick: Bay Area home prices up, sales still slow

The median price paid for a Bay Area home moved up in March, regaining much of the decline since last summer even as sales remained at the lowest level in 11 years, a real estate information service reported.

The median price paid for a home in the nine-county Bay Area was $639,000 last month ... up 2.1 percent from $626,000 for March last year, according to DataQuick Information Systems.
A total of 8,317 new and resale houses and condos were sold in the Bay Area last month. That was ... down 19.6 percent from 10,343 for March last year.
Different month, same story. Falling demand and rising supply will probably start impacting the median price soon.