(12-20) 11:31 PST SAN FRANCISCO -- The Bay Area housing market showed no signs of recovery in November, with sales hobbling along at a two-decade-low pace and buyers still struggling to find mortgages.
A total of 5,127 new and existing houses and condos traded hands last month, down 36.2 percent from November 2006, according to real estate research firm DataQuick Information Systems. That's the lowest sales count for the month since at least 1988, when the La Jolla, San Diego County, firm began tracking the market. It is the 34th consecutive month of declines.
Sales of existing, single-family homes in the nine counties that border the bay plummeted 39.4 percent, from 5,308 last year to 3,217 in November, DataQuick reported.
Year-over-year prices for existing detached homes continued to diverge sharply from one city to the next. Solano and Sonoma witnessed drops in median home values of 18 and 11.4 percent, respectively. Meanwhile, Santa Clara and San Francisco showed increases of 9.5 and 6.9 percent.
For all existing homes in the Bay Area, the median price in November was $670,000, up 1.4 percent from $661,000 a year ago. The median means that half the homes sold for above the amount and half below.
Link:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/20/BUQ9U25H7.DTL&tsp=1
A total of 5,127 new and existing houses and condos traded hands last month, down 36.2 percent from November 2006, according to real estate research firm DataQuick Information Systems. That's the lowest sales count for the month since at least 1988, when the La Jolla, San Diego County, firm began tracking the market. It is the 34th consecutive month of declines.
Sales of existing, single-family homes in the nine counties that border the bay plummeted 39.4 percent, from 5,308 last year to 3,217 in November, DataQuick reported.
Year-over-year prices for existing detached homes continued to diverge sharply from one city to the next. Solano and Sonoma witnessed drops in median home values of 18 and 11.4 percent, respectively. Meanwhile, Santa Clara and San Francisco showed increases of 9.5 and 6.9 percent.
For all existing homes in the Bay Area, the median price in November was $670,000, up 1.4 percent from $661,000 a year ago. The median means that half the homes sold for above the amount and half below.
Link:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/20/BUQ9U25H7.DTL&tsp=1
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