Bay Area Home Sales Down

SAN FRANCISCO (KPIX) - The red-hot Bay Area real estate market is cooling off. New data shows a continuing drop in home sales.

According to the research firm Core Logic, sales dropped 15 percent in November compared to the same time, a year earlier.

The drop continues a downward trend that's been going on since June and it includes the high end of the market.

Last month, sales of homes for more than a million dollars dropped nearly 10 percent.

Key factors include higher mortgage rates and volatility in the stock market.

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• Real Estate