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Transcripts For KTVU The Eleven OClock News On KTVU FOX 2 20240712

We were kind of at our max. Reporter while the median price of a home in california is 706,000, in the bay area its 1,068,000. This time last year it was 900,000, and 18 increase. There has been a pentup demand for homes in the last several years. We have had a low supply of homes for sale. Reporter while some are leaving the bay area, able to work remotely during the pandemic, realtors say many people still want to live here. This is an area thats surrounded by hightech employers that are willing to pay a lot of money for you to work for them. Even if you want to live here. The weather here is wonderful. Reporter this Real Estate Broker sold the 759 square foot one bed, one bath house in san jose for over asking price, 1,055,000 with six offers. The new owner plans to tier it down and rebuilt. The broker says the biggest factor pushing up home sales is the historic low interest rates. And the two percentile, 2. 5 to 2. 75 . Whenever the cost of money is this low you find people being

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