Bay Area home sales great for sellers, tough on buyers

“Bay Area Housing – Hopeful buyers face big hurdles – Low inventory drives up prices shutting out midlevel shoppers”

Courtesy Pete Carey – June 12, 2014

The Bay Area’s housing market stumbled in May — prime home-buying season — as high prices and low inventory held real estate sales well below normal levels, according to a report Thursday.

Sales of single-family houses were down from the same month last year in the East Bay, Peninsula and South Bay, while prices were up, according to real estate information service DataQuick, which released the report. Prices for all types of homes were at their highest since November 2007 in the nine-county Bay Area.

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