Bay Area Home Prices Slip For 12th Straight Month
SAN FRANCISCO (CBS/AP) - The median home price in the San Francisco Bay area declined from year-ago levels for the 12th month in a row in September while overall, more homes were sold.
San Diego-based DataQuick reported Friday that the median home price in the nine-county area last month was $365,000. That was down 1.4 percent from August and 7.6 percent from September 2010.
A total of 6,749 new and existing homes were sold, down 10.2 percent from August—a common seasonal drop—but sales were up 6.6 percent from September of 2010.
Falling prices may have helped the market. More than a fourth of all existing homes resold in the region were foreclosures.
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