The Bay Area is experiencing a housing market surge driven by the AI industry, with San Francisco and San Jose leading national home sales growth in May. - San Jose saw a 25.7% year-over-year increase in closed home sales, the highest among major U.S.
metros. - San Francisco recorded a 19.3% jump in closed sales and a 21.4% rise in pending sales.
- Other California markets like Los Angeles and San Diego saw more modest gains, while price trends varied widely. - Nationally, existing home sales rose 2.8% in May, but pending sales remained flat due to rising mortgage rates and global uncertainties.