Bay Area housing market gets costlier in January

Housing got even costlier in the San Francisco Bay Area last month.

For a 10th consecutive month, the median home price in the nine-county region rose year over year to hit $415,000, real estate firm DataQuick reported.

That was a 27.3% increase from the same month last year, though a 6.3% decline from the prior month.

The region posted its strongest January sales pace in six years, popping up 3.2% from the prior month.

A total of 5,501 newly built and previously owned houses and condominiums sold last month.

Foreclosures and short sales made up just over a third of the market last month.

ALSO:

One-third of homeowners have no mortgage

2012 was a banner year for housing affordability

Investors fuel Southland housing gains as foreclosures plummet

Article source: http://www.latimes.com/business/money/la-fi-mo--bay-area-housing-20130214,0,4188583.story

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