Home prices slowing elsewhere, still spiking in Bay Area – San Francisco Business Times
Home prices across the country show signs of stabilizing — except in the Bay Area where we continued to see big price spikes. Why do we always have to play the role of outlier?
Signs of stabilization depend on increases in median home price, numbers of new listings and the average number of days for-sale homes stay on the market.
In the Bay Area, our inventory of new listings increased by only 3 percent to 8,006 homes in July 2013 compared with the same month last year, while our median home price soared by 40 percent to $610,000 in July, up from $436,000 the prior yea