Friday, June 17, 2005
Home prices in Bay Area set another record in May - Kelly Zito, San Francisco Chronicle
Home prices in Bay Area set another record in May / Pace of appreciation slows, signaling possible cooling in market: "Bay Area home prices in May hit their 10th record in 12 months. But the rate of appreciation is cooling, hinting at a gradual slowdown in the market, according to analysts at a real estate information firm.
As consumers continued to plow money into real estate rather than less attractive investments, the median price for a single-family home in the nine- county region reached $630,000 in May, 1.3 percent above the previous record of $622,000 in April and 18.9 percent above May 2004's $530,000 median, said a monthly housing report from DataQuick in La Jolla (San Diego County)."
As consumers continued to plow money into real estate rather than less attractive investments, the median price for a single-family home in the nine- county region reached $630,000 in May, 1.3 percent above the previous record of $622,000 in April and 18.9 percent above May 2004's $530,000 median, said a monthly housing report from DataQuick in La Jolla (San Diego County)."
