SAN DIEGO (CBS/AP) — San Francisco Bay Area home prices have risen to the highest levels in four years, according to a research firm.
DataQuick said Wednesday that the median price for new and existing homes and condominiums reached $417,000 in June.READ MORE: UPDATE: Fire Burns Pleasant Hill Senior Living Facility; Injured Resident Rescued From Balcony
That’s up more than 10 percent from the same period last year. Last month’s median was the highest since it was $447,000 in August 2008.
DataQuick attributes the increase to an ongoing shift in the types of homes selling, slightly improved mortgage availability and ultra-low interest rates on home loans.READ MORE: COVID: Sonoma County Eases Capacity Limits On Indoor Gatherings As Case Rates Decline
The number of homes sold reached 8,600. That’s more than 7 percent from the same period last year.
DataQuick says sales have increased on a year-over-year basis for the 12th month in a row.MORE NEWS: UPDATE: San Francisco District Attorney's Office Refutes Claims Made in Chinatown Attack Victim's Lawsuit
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