Facebook Inc.’s Silicon Valley hometown has a limited supply of real estate available for its newly minted millionaires as sellers await further price gains in a market buoyed by growing wealth from technology businesses.
Home listings in Menlo Park, California, a leafy town about 30 miles south of San Francisco, fell 9 percent in the year through April compared with the same time in 2011, data from MLS Listings Inc. show. The number of new properties coming to the market decreased for the eighth time in 12 months.
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