Regional Spotlight-- Median home-sale price continues to grow by double-digits in the Bay Area of California, but with such a shortage of inventory and fewer new listings, there soon may be nothing left to buy.
Year-over-year single family inventory continues its drop from January 2012 levels. Santa Clara County and San Mateo Counties were down more than 50 percent compared to the same month last year, for the second month in a row, with other counties falling only slightly less. Sales were mixed in January; San Mateo County was up 5 percent, Santa Cruz County remained flat, and Santa Clara, San Benito, and Monterey sales dipped moderately.