Remember that movie Groundhog Day, where Bill Murray wakes up to the same damn thing again and again? Well, that's how we feel when the Bay area housing sales report drops each month. The numbers have plummeted: 3,586 homes moved in the last month, down a whopping 29% from January 2007 [Ed note: clarification— in San Francisco] — and this January's figure represents a 42% fall [Ed note: in the overall Bay area] from January 2007. Median Prices? Down! $550,000 from last month's $601,000, or another 6.4% As always, jumbo loans have been slapped with the blame card. [SF Gate]
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