Amazingly, prices are still rising, but the price increase are slowing. Confusing? Read the full article below
Prices of lower-end homes in the Bay Area appreciated at a healthy clip in the fourth quarter but rose more slowly than prices in the central and southern parts of the state, according to a federal study that tracks repeat sales of such properties.
The quarterly survey of 245 U.S. metropolitan areas by the regulator of mortgage giants Fannie Mae and Freddie Mac found prices in the San Francisco- San Mateo-Redwood City area rose 13.8 percent between the fourth quarter of 2003 and the fourth quarter of 2004.
Prices increased 13 percent in the San Jose-Sunnyvale-Santa Clara area, 16 percent in Oakland-Fremont-Hayward, 17.7 percent in Santa Rosa-Petaluma and 20.5 percent in Vallejo-Fairfield in the same period.
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