San Francisco Bay Area home prices rise in November

SAN DIEGO — A research firm says San Francisco Bay Area home prices in November were up more than 20 percent from last year as buyers competed for scarce supplies.

DataQuick said Thursday that the median price for new and existing houses and condominiums was $438,000 in the nine-county region. The median price jumped $22,000 during the month.

Nearly 7,300 homes sold in the Bay area, up 16 percent from last year. It is the region's highest November sales tally in six years.

Foreclosed properties made up a smaller part of the sales mix, lifting the overall median price because they tend to sell at steep discounts.

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