Bay Area June home sales up slightly

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Updated: 7/16 11:27 am

LOS ANGELES (AP) — Real estate monitor DataQuick says San Francisco Bay Area home sales rose slightly in June compared to a year earlier, and the pace of price increases slowed.

DataQuick said Wednesday that potential buyers in the nine-county region face a limited supply of homes for sale, prices near or at new peaks, and a constricted mortgage environment.

The firm says 7,915 new and resale houses and condos sold in the region last month, up .2 percent from May and .2 percent from June 2013. DataQuick notes that last month's sales were more than 20 percent below the June average since 1988.

The median price paid for a home last month rose to $618,000 from $617,000 in May. Year over year, the increase was 11.4 percent, the lowest in 22 months.

 

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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