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It’s a seller’s market again as prices surge across Bay Area and supply dwindles

The housing crunch in the Bay Area is intensifying, after new listings for homes plunged 12 percent from the same period last year and the median home price climbed into double digit increases year over year. The data come from a new report from the California Association of Realtors released this week. It shows home prices climbing across the entire Bay Area, as well as the rest of the state, as more people look for housing in places with limited housing supply. "Sales of single-family homes rose…

Article by Riley McDermid (c) San Francisco Business News - Local San Francisco News | The San Francisco Business Times - Read full story here.