California Bay Area Home Sales Decline 3 Percent YoY in July, Inventory up 2% YoY

Here are some Bay Area stats from Pacific Union chief economist Selma Hepp: Finally More Bay Area Housing Inventory After 16 Months of Declines • The Bay Area's decline in home sales (single-family and condominiums) improved in July, with only a 3 percent less activity year over year after a 13 percent decline in June. • Inventory finally improved, up by 2 percent, after 16 consecutive months of year-over-year declines. • Inventory above $1 million increased by 17 percent, mostly driven by more homes for sale in Santa Clara and San Mateo counties. • Only Sonoma and Napa counties gained......(read more)

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