Bay Area Home Prices Continue to Rise

Driven by huge surges in homes priced above $2 million, Bay Area homes increased 14 percent year over year in November. Competition for homes remained intense with seven fewer days on the market year over year.

However, a shortage of inventory continued with the number of homes for sale down 2 percent over November 2016.

Analysts also speculated that proposed tax changes in Congress and uncertainty over homebuyer deductions also played a prominent role in the November surge.

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