WatchDATAQUICK- San Francisco Bay Area home sales held at a six-year high last month as activity rose across the price spectrum, with the $500,000-plus market logging the biggest gains from last year. The trend toward more mid- to high-end deals, coupled with fewer foreclosures re-selling, helped the median sale price rise year-over-year for the second consecutive month, to a 22-month high, a real estate information service reported.
A total of 8,810 new and resale houses and condos sold in the nine-county Bay Area last month. That was up 14.8 percent from 7,675 in April, and up 26.1 percent from 6,988 in May last year, according to San Diego-based DataQuick.
Last month’s sales were the highest for a May since 2006, when 9,935 homes sold. Since 1988, when DataQuick’s statistics begin, May sales have varied from a low of 6,216 in 2008 to a high of 13,567 in 2004. Last month’s sales were 8.8 percent below the average number sold in May since 1988. A year earlier, in May 2011, Bay Area sales were about 28 percent below average.
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Scottsdale, AZ
robertoaribas's website
if you don't like the data, by all means attack the source! I mean, there might possibly be someone reading this thread that doesn't already know what an ignorant schmuck you are!
[reply to post now deleted, that was just a personal attack on OP]
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From what I hear in the news is that Bay Area is a huge bubble and people should just rent instead of buying.
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San Leandro, CA
In Stockton (now bankrupt) Home prices skyrocketed to a median of nearly $400,000 in 2006 from a median of $110,000 in 2000. Here in the Bay area we are warming up for an "after bubble". Does ya wonder how long gubmint will provide Zero interest ? Any body have a take on the percentage of the Bay area population that can afford to buy homes in the Bay Area ? It was 17 % prior to the prick. What will the percentage be prior to the next little prick ?
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Belmont, CA
lostand confused says
Meth heads are the future. The country has some serious fundamental issues, like printing Free Money Matt Lesko style to prop up a bubble.
Yet while they manage to keep these assets from going under, only the least damaged local economies survive and only with massive speculation and money laundering with foreign capital, the rest of the country has to face stagflation where salaries remain the same but food, fuel , commuting costs, fees, tuition, commodities and rent all go up far faster than the supposed core inflation and certainly faster than the salaries which are actually dropping.
My large fortune 500/global 500 company just froze all travel.
yeah, things are great. Go leverage yourself into a hole it will take 40 years to dig out of .
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Victorville, CA
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wthrfrk80 says
No sir, but we don't let some parched old pucker bushes spook us into using lazer light shows like some other cities!
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Victorville, CA
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Stockton don't have the fundaments. San Francisco is goddamn scabby but she has all the brains and talent and beauty.
Victorville is teh future tho. Trust me trust me.
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Corning, NY
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JodyChunder says
Very true!
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Victorville, CA
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lostand confused says
I am sure you wouldn't last a second out here. The methheads and gangbangers keep out all the weak whiny nail buffing crowd so speculation is reserved for the mighty few.
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JodyChunder says
LOL, I know Victorville and Apple Valley pretty well. You can have it..
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Victorville, CA
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lostand confused says
You lived here??? Did you ever eat at the Tutti Frutti on Bear Valley? I own it. Come in next time you in the high desert and I'll buy you some dessert.
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Belmont, CA
JodyChunder says
Man, I like you. Just reading your stuff makes me want to stop by on my way to LA in august.
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San Jose, CA
JodyChunder says
My dad lives out there, I'll send him your way.
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Victorville, CA
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Mick Russom says
you missed a rollicking 4th! Swing on in and JC will treat you an your people right.
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Victorville, CA
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eclipxe says
Best Seniors Discount in the desert. Let him know I can tint his windows with also a discount.
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Corning, NY
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JodyChunder says
Did anyone manage to set the desert brush on fire with the fireworks?
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Corning, NY
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But don't lasers light stuff on fire?
Why else would Dr. Evil put a giant "laser" up on the moon?
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Median at $400,000....
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San Jose, CA
Prices going up in the summer with record low interest rates.... that is breaking news.
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JodyChunder says
Victorville? The meth dealers might agree with that.
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iwog says
Bay Area distressed housing sales
Last month foreclosure resales – homes that had been foreclosed on in the prior 12 months – accounted for 21.9 percent of the resale market. That was the same as in April and down from 26.5 percent a year ago. The April and May level was the lowest since foreclosure resales were 18.8 percent of all resales in January 2008. Foreclosure resales peaked at 52.0 percent of the Bay Area’s resale market in February 2009. The monthly average since 1995 is about 10 percent