by Calculated Risk on 6/21/2006 05:39:00 PM

DataQuick reports: Bay Area home sales continue to drop, prices reach new peak

Sales of Bay Area homes declined for the fourteenth month in a row in May as prices continued to slowly edge up ...

A total of 9,064 new and resale houses and condos were sold in the nine-county region last month. That was up 8.4 percent from 8,358 for April, and down 19.8 percent from 11,308 for May last year, according to DataQuick Information Systems.

Last month was the slowest May since 2001 when 7,864 homes were sold. The strongest months of May since 1988 were May 2004 with 12,028 sales, and last year. May sales hit bottom in 1995 with 5,779.
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The median price paid for a Bay Area home was $631,000 last month, another record. That was up 0.5 percent from April's $628,000, and up 6.1 percent from $595,000 for May a year ago.