Home sales rebound in Bay Area

The second quarter was a strong one for home sales in the San Francisco Bay Area, according to a new report.

Moving activity in the area proved to be particularly busy, as 14,474 existing single-family homes were sold in the second quarter - up 43 percent from the previous quarter - reported Prudential California Realty. Home prices in the area also shot up 11 percent, from a median of $488,274 in the first quarter to $543,629. All nine counties in the Bay Area saw improving results, which could indicate the region's growing popularity as a moving destination.

On top of that, homes stayed on the market for an average of 11 days fewer than they did during the same quarter a year ago, said the report. It would appear that some buyers are growing restless, said David Gardner, the group's managing director.

"A tighter inventory and pent-up demand from buyers worried that favorable prices and interest rates won't last forever may provide further stimulus to the Bay Area real estate market," he said.

Before moving to this, or any region, a person should research the area's crime rate, job opportunities, and education system.


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