Bay Area Home Sales Continue to Sink

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NBC 5 News

A tracking firm says home sales in the San Francisco Bay Area plummeted nearly 23 percent last month from the previous year to reach their lowest level in 15 years.
San Diego-based MDA DataQuick said Thursday that the drop from about 8,800 homes in July 2009 to around 6,800 homes last month came as the market adjusted to the end of federal tax credits for first-time buyers.
The firm says last month was the slowest July since 1995, when just under 6,700 homes sold.
Last month's sales were also down about 19 percent from around 8,400 in June.

Copyright AP - Associated Press
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