San Francisco Bay area lifts California home prices in April

8ef96 133a26df27b34734880f6a706700b412s3keypreview San Francisco Bay area lifts California home prices in April
FILE – In this Monday, May 12, 2008 file photo, the “Painted Ladies,” a row of historical Victorian homes, underscore the San Francisco skyline in a view from Alamo Square. Real estate brokerage Redfin analyzed home sales over the past 24 months in 20 major U.S. cities, breaking down the data by neighborhood. Many of the cities reflect home values that have outpaced wages over the past 15 years, causing their neighborhoods to mirror a broader national wealth gap. San Francisco, for example, enjoys the benefits of tech fortunes, but its homes are largely unaffordable for the police officers, firefighters and teachers the city needs. (AP Photo/Marcio Jose Sanchez)

SAN DIEGO (AP) — Record highs in the San Francisco Bay area helped lift California home prices to their loftiest levels since September 2007 last month. Sales were soft.

Research firm CoreLogic Inc. said Wednesday that the state’s median home price rose to $430,000 in April, up 4 percent from March and 6 percent from a year earlier. It was the 50th straight annual increase.

There were slightly less than 41,000 homes sold, up 6 percent from March but down 1 percent from a year earlier.

Prices in the nine-county San Francisco Bay area hit an all-time high of $686,000, surpassing its peak in 2007. The median sales in San Francisco County reached an all-time high of $1.3 million.

Article source: http://kron4.com/2016/05/18/san-francisco-bay-area-lifts-california-home-prices-in-april/

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