Why the market for Bay Area homes above $3 million is exploding

The Bay Area’s already shock-inducing home prices are soaring to new levels. During the past year, the number of homes that sold for more than $3 million doubled throughout the region even in the East Bay. 

A major driver is simply the tech industry with executives or even low-level employees cashing out their stock options, said Dean Wehrli, a housing expert with John Burns Real Estate Consulting. 

“Technology supplies enough buyers for these homes that were once considered unattainable,”…