The San Francisco Bay Area housing market saw a significant 11.9% price increase in May 2024 compared to the previous year. Different counties experienced varying trends, with notable jumps in prices and sales in counties like Santa Clara and San Mateo. Factors like limited inventory and high demand from tech professionals are driving the price surge, creating a seller's market where sellers have the upper hand. Potential buyers are advised to get pre-approved for a mortgage, work with a real estate agent, and be prepared to act quickly due to the fast-paced market.
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