Bay Area home prices continued to rise in May, the result of an improving economy, low mortgage rates, pent-up demand and continued investor interest. Sales remained below average, mainly because the supply of homes for sale remains unusually tight, according to San Diego-based DataQuick. The median price paid for a home in the nine-county Bay Area last month was $519,000, up 1.8 percent from $510,000 in April, and up 29.8 percent from $400,000 in May 2012. That was the highest median since March 2008, when it was $536,000.Click to continue
↧