San Francisco Bay area home sales fall in December

San Francisco Bay area homes sales fall in December amid tight inventories, prices hold steady

Associated Press

SAN DIEGO (AP) -- A real estate research firm says San Francisco Bay area home sales fell in December amid scant inventories as prices held steady.

DataQuick said Wednesday that slightly more than 6,700 new and existing houses and condominiums sold last month, down 13 percent from the same period a year earlier. It was the lowest December tally in six years.

The median sales price in the nine-county region was $548,500, barely changed from November but up 24 percent from December 2012. It is the 14th straight month of annual price increases above 20 percent, though prices have leveled off since summer.

DataQuick predicts that more San Francisco Bay area residents will put their homes up for sale by spring if price increases hold, boosting inventories.

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