The housing market in and around Silicon Valley continued to suffer in February from an inventory shortage that is stifling home sales, according to data from CoreLogic. San Jose Mercury News writer Pete Carey talks to local real estate agents to get behind the numbers, which show a market marked by high prices and a severe shortage of anything even close to entry level.
Real estate agents in parts of the East Bay and South Bay said there was plenty of demand -- just not enough homes on the market. But in some areas, buyers were giving up.
"A lot of people are dropping out of market," said Lynne French of Windermere Real Estate in Clayton in Contra Costa County. "For first-time buyers, $739,000 for a house is tough."