Pending Home Sales in Bay Area Continue to Decline

The California Association of Realtors’ latest Pending Home Sales Index reports that pending home sales in the Bay Area were down by 11.5 percent in July.

Once again, low inventory results in increased competition with 66 percent of homes receiving multiple offers in June.

Analysts say that low supply plus continued high demand could result in double-digit-percent home price appreciation although sales activity is expected to slow in the coming months.

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