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SAN FRANCISCO -- A report out this week from the Department of Housing and Urban Development finds the median price for a single-family home in the Bay Area is now $935,000. A family earning $117,000 now qualifies as "low income" in the region. CBS News went to see California's red-hot housing market with realtor Larry Gallegos. He showed us a house you would think he couldn't give away. But Gallegos says the home, complete with leaks in the roof, sold for $1.23 million. The buyer beat out six competing offers, all above the asking price. Realtor Larry Gallegos says this rundown house sold for over $1 million. "It's a little mind blowing, but it is the norm around here," Gallegos said. Th... Full story

26 June