News Briefs

Cool But Hot

Bay Area housing prices cooled slightly over the summer, though paradoxically they are still considered hot. How’s that?

Single-family homes leveled off a bit in July, the Contra Costa Times reported. But there was still a gain — it was just the smallest annual pace in nearly two years.

Also, REReport.com notes, “Notices of sale, which set the date and time of an auction and serve as the homeowner’s final notice before sale, [declined] 24.3 percent from May, and they were down 37.8 percent year-over-year. There were 28.”

The website noticed another trend, one that will be welcomed by nearly everybody: “Notices of default, the first step in the foreclosure process, in San Francisco continues to drop. They plummeted 30 percent in June from May. Year-over-year, notices were down 26.3 percent.”

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