From today’s Chronicle, Kelly Zito covers the latest data on home sales around the Bay Area. “The median price for a single-family home in the nine-county region hit a record $656,000 in November, up from $644,000 the month before, according to research company DataQuick. Last month’s median price represented a 17 percent climb over November 2004 — at the lower end of the 17-to-20.5 percent increases seen during the past 11 months.”

“Home sales already appear to have passed their peak in a historic housing boom that forged ahead despite the loss of hundreds of thousands of jobs in the region.”

“After arguing for several years that California home prices were steeply overvalued and cruising toward a sharp correction, economists at UCLA’s prestigious Anderson Forecast switched gears and now say the market will level, but not plummet.”

Once again, we’re seeing the exact same trends as we have in the past few years in November/December… Everyone is now curious to see if things will take off again in January as they have for so many consecutive years…

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