Home Prices In The Bay Area Drop
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For the second month in a row, the median price of a Bay Area home has dropped from the same time last year.
The price of homes in Santa Clara County fell nearly 15 percent in November.
Last month, the median price of a single-family home in the Bay Area was 375-thousand dollars, down 3.6 percent from November 2000. In Santa Clara County, the median was down to 435-thousand dollars from 510-thousand dollars in November 2000.
The decrease is attributed in part to the weakened economy and fewer people willing to pay high prices for houses.
Real estate agents report that November was a busy month, and December, which is usually pretty slow, has been fairly active for home sales.
