Feb 14, 2013 2:01 PM by Associated Press
SAN DIEGO (AP) - Northern California has posted its strongest home sales for January in six years but researchers say the market's still far from normal.
The San Diego-based firm DataQuick reports Thursday that about 5,500 homes were sold in the San Francisco Bay area last month, up more than 3 percent from January 2012.
The median price for a home in the nine-county region was $415,000. That was up more than 27 percent from the price a year earlier.
There were fewer sales of foreclosed homes and short sales, where the price was less than what was owed on the home. Sales also shifted away from low-cost homes to mid-market and move-up homes.
However, DataQuick President John Walsh says the mortgage market is still dysfunctional and it's only slowly moving toward normalcy.
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at firstname.lastname@example.org, and include the name of the story and information on the comment.
Thank you! KSBY.com
38 minutes ago