Foreclosures drive surge in S.F. Bay Area sales

MDA DataQuick said sales of homes and condos in the San Francisco Bay Area surged 45 percent in September from a year ago -- the largest leap since April, 2002 -- but the median home price slipped 40 percent from last year's peak as the mix of sales included more inland foreclosures.

Nearly 42 percent of all existing homes sold around the Bay Area last month were foreclosed on at some point in the last 12 months, compared to 36.1 percent in August and 6.9 percent a year ago, according to DataQuick.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.