San Francisco Bay Area real estate market booming

A new report out Tuesday shows the real estate market in the Bay Area is hot.

San Francisco home prices have surged nearly 25 percent in the past year; the biggest increase in seven years. That’s more than double the nationwide average of major cities.

According to the SP/Case-Shiller index that ranks metropolitan cities, Las Vegas reported the next biggest jump at 23 percent, followed by Phoenix at nearly 21 percent.

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Article source: http://abclocal.go.com/kgo/story?section=news/business&id=9190210