Home prices in the San Francisco Bay Area surged in April amid robust demand, bucking a national cooling trend with the help of a booming tech industry.
Sales were essentially flat over the year.
That compares to a cooling Southern California housing market, where sales have now fallen year over year for seven straight months.
But in the nine-county Bay Area the technology industry has kept the market humming.
Investors continued their pullback last month. Absentee buyers – mostly investors—purchased 20.2% of homes sold in April, down from 20.7% in March and 24.2% in April 2013.
All-cash buyers declined as well.