Thursday Must Reads: Bay Area Housing Market Remains Red Hot; Oakland Council Shelves Plan to Audit the City Auditor

Stories you shouldn’t miss:

1. The Bay Area housing market remained red hot in April, as the median home sales price soared to $510,000 — its highest point in five years and a 30.8 jump over the same month a year ago, the Chron$ reports. A relatively small number of homes on the market are continuing to spark fierce bidding wars. However, the region’s median home price is still short of its peak of $650,000 in the summer of 2007. The low point was $375,000 in March 2009 during the height of the foreclosure crisis.

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