Bay Area median home prices, sales up in May Around Town, posted by Editor, Palo Alto Online, on Jun 16, 2012 at 10:19 pm
The median sale price for Bay Area homes rose for the second consecutive month in May -- up 7.5 percent from a year ago -- driven by a high number of sales and increased activity at the higher ends of the market, according to figures released Friday.
Read the full story here Web Link posted Saturday, June 16, 2012, 9:38 AM
Posted by jack, a resident of the Crescent Park neighborhood, on Jun 16, 2012 at 10:19 pm
Real estate prices went up for two months in row but unfortunately the Facebook IPO has stopped social IPOs dead in their tracks. The valley is in a funk. One companies greed ruined it all. Already the open houses have way fewer people.
I think prices will retract a bit. Not back to where they were in January which was still not much above 2008, but back from the 25 percent increase from Jan to May. All those hoping to sell in the summer are seeing a marked slow down. Those who bought in May paid too much.