Bay Area home sales rose in October while price gains tapered off.
Sales in cheaper neighborhoods fell but took off in move-up and pricier areas. Foreclosed homes made up only a little over 1 out of 10 previously owned homes sold in the region last month, according to a report by real estate firm DataQuick.
“We’re definitely seeing less distress and foreclosure activity, and more mid- to up-market sales,” DataQuick President John Walsh said. "Supply is limited, and getting through the mortgage process is still rough.”
Sales rose 13.8% from September and 21.0% from October 2011, DataQuick said. A total of 7,795 newly built and previously owned homes sold last month.