Industry News

Real estate sales slip for sixth straight month in S.F. region

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Sales in the nine-county San Francisco Bay Area dropped for the sixth month in a row in September, while median prices for the region dropped 0.5 percent from August to September, according to a real estate research firm. Meanwhile, year-over-year median price increases have ranged from 17.6 percent to 20.5 percent, DataQuick Information Systems announced today. A total of 11,205 new and resale houses and condos were sold in the Bay Area region last month. That was down 7.8 percent from 12,154 for August, and down 7.2 percent from 12,075 for September 2004. So far this year 96,591 homes have been sold, down 5 percent from 101,693 for the same nine-month period last year. Last year's year-to-date sales were the highest in DataQuick's statistics, which go back to 1988. Sales this year have been the second highest. "The Bay Area real estate market seems to have settled into a steady state, with few indicators pointing to any upcoming change. Supply and demand seem stable. We are keeping...