Friday Must Read: Home Prices Skyrocket in Bay Area; Governor Unveils Plan for Giant Water Tunnels

Stories you shouldn’t miss:

1. Bay Area home prices jumped 24.6 percent in February compared to a year ago, as buyers engaged in bidding wars for a limited number of homes on the market, the Chron reports, citing a new industry analysis. The median sales price in February increased to $405,000, compared to $325,000 in the same month in 2012. However, the number of homes sold decreased by 6.1 percent. Real estate agents are reporting ferocious bidding wars over a small number of homes.

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