A research firm says San Francisco Bay area home prices posted a 12th straight month of double-digit price increases last month as sales fell.
DataQuick said Thursday that the median price for new and existing houses and condominiums reached $519,000 in May, up 30 percent from the same period last year. It is the 14th straight month of annual increases and the highest median since March 2008, when it was $536,000.
Tight supplies kept a lid on sales in the nine-county region. There were more than 8,500 homes sold, down 4 percent from last year. Sales dropped 14 percent in San Francisco and 11 percent in Alameda County.
Copyright AP - Associated Press
