Home Prices Skyrocketing in San Francisco

Business

0  Updated at 2:47 pm, July 31st, 2014 By: ABC Digital
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iStock/Thinkstock(SAN FRANCISCO) — Affording a home in the San Francisco area is becoming more difficult.

As the tech economy booms in the Bay Area, numbers released on Thursday show that home prices there are skyrocketing.

The median home price in San Francisco is now over $1 million, according to the firm DataQuick.

The firm DataQuick says more than 5,700 homes sold for at least $1 million in the Bay Area during the second quarter, the most since the firm started tracking the market in 1988. More than 1,100 of the homes went for at least $2 million — also a record.


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