Bay Area home prices zip up nearly 7% in October

Bay Area home prices rose nearly 7 percent last month from September as foreclosures comprised a smaller percentage of sales and the higher-end market saw a modest increase in activity.

Analysts caution that while the numbers may show the housing market moving toward a more traditional model – with fewer distressed properties and bargain-basement buyers – they must be taken in the context of historic price declines.

Full story is available on San Francisco Chronicle

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