Industry News

Real estate price growth slows in San Francisco area

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The year-over-year rate of home-price gains in the San Francisco Bay Area dropped below 10 percent for the first time in more than two years, according to the latest report by DataQuick Information Systems, a real estate research and information company. The cost of median-priced homes in the nine-county area around San Francisco was up 9.5 percent from March 2005 to March 2006, the company reported. Meanwhile, the number of Bay Area homes sold in March dropped 13.8 percent compared to March 2005 sales but was up 57 percent from 6,206 sales in February 2006. The year-over-year decline in monthly sales was the 12th in a row, though DataQuick noted that the March 2006 total was above average, with March sales ranging from 5,496 in 1995 to 11,442 in 1989 since the company started tracking these statistics in 1988. "March numbers are pretty good at predicting upcoming activity. We figure that sales will be good but not spectacular on into the summer and that price increases wil...