California Bay Area home sales hit 5-year high

The median sale price for all homes in the nine-county Bay Area hit a new record high last month at $686,000, according to a new report by CoreLogic, the Irvine-based real estate information services firm. That price surpassed the previous record high of $665,000 reached in June and July of 2007.

According to the report, the median home sale price. home price in California is more than twice the national median home price of 264,800 dollars, the report said. The increase was largely driven.

California home sales started off 2019 with a whimper, 6% lower year-to-date as of May. This continues a consistent decline in year-over-year sales volume that began in mid-2018. Sales volume ended 2018 4.3% below 2017, amounting to 19,900 fewer sales. In contrast, 2017 home sales volume ended the year with just 3,800 more sales than in 2016.

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