February 5, 2006

California Homes Sales Up, Bay Area Sales Declining

CBS 5: CA Homes Sales Up, Bay Area Sales Declining
Californians bought new homes in 2005 at the highest rate in two decades, according to a report released Friday.

DataQuick, a real estate information service, reported 136,228 newly built homes were sold last year, the highest amount sold since the company began taking records in 1988.

San Mateo County was the most expensive place to buy a brand-new house. The median price was $900,000.

DataQuick President Marshall Prentice attributed the record number to strong demand and relatively low interest rates in 2005.

But overall sales of Bay Area homes have declined for the last nine months, according to a report released last week by DataQuick.

Uh oh. Is this the end for the Bay Area Bubble?

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Click here to post a comment -- Posted by: burbed @ 1:58 am


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