December 21, 2014
SAN DIEGO (AP) - A research firm says San Francisco Bay area home sales dropped to the lowest level for any January since 2008.
DataQuick said Thursday that the median sales price from new and existing houses and condominiums in the nine-county region was $525,000, down 4 percent from the previous month but up 27 percent from January 2013. It's the 22nd straight month of annual price increases.
Low inventory kept a lid on sales. Nearly 4,700 homes sold in the region last month, down 15 percent from the same period a year earlier.
DataQuick says prices and sales volume typically drop in January from December.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.