Low Affordability, Inventory Drive Bay Area Homebuyers to Bedroom Communities

By February 23, 2017Bay Area Real Estate

A home in Contra Costa County, which saw home sales increase by 10 percent year over year in January.

California home sales got boost in the inaugural month of 2017, while the number of transactions trended lower here in the Bay Area — particularly in the more expensive counties.

In its latest home sales and price report, the California Association of Realtors says that there were 420,100 annualized single-family home sales in January, a gain of 4.4 percent from one year earlier. In a statement accompanying the report, CAR Senior Vice President and Chief Economist Leslie Appleton-Young said that higher interest rates likely fueled real estate activity, motivating buyers to get off the fence before they increase further.

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