REAL ESTATE
Untitled Page
O.C.'s median home price falls 7 percent from July '08
But number is up slightly from June, says California Association of Realtors.
By Kristen SchottPublished: August 24, 2009 10:28 AM
Though Orange County's median home price continues to dip, falling 7 percent in July compared to the same time last year, the number is up slightly from June, according to a report from the California Association of Realtors.
The median home price was $500,210 in July – it's a 2.4 percent uptick compared to June, says C.A.R., which reports its numbers based on closed escrow sales of single-family, detached homes.
That's good news for the region: It’s the third consecutive month of month-to-month increases in the median price. The yearly decline was the smallest in the past 19 months for O.C., as well as the state, according to C.A.R.
Statewide, the number reached $285,480. It's a 19.6 percent drop from the same time last year, but the number did jump 4 percent over June.
“July marked the fifth consecutive month of month-to-month increases in the median price,” says C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “This was the largest increase on record for the month of July based on statistics dating back to 1979. The yearly decline in July also was the smallest in the past 19 months."
NEXT PAGE >>
Related headlines
'OC METRO Minute,' Aug. 25: Home prices are not appreciating due to lender-controlled seller's market
O.C.'s unemployment rate jumps to 9.5 percent
'OC METRO Minute,' Aug. 19: Home construction, purchases, prices up in O.C.
|
||||
|
The median home price was $500,210 in July – it's a 2.4 percent uptick compared to June, says C.A.R., which reports its numbers based on closed escrow sales of single-family, detached homes. That's good news for the region: It’s the third consecutive month of month-to-month increases in the median price. The yearly decline was the smallest in the past 19 months for O.C., as well as the state, according to C.A.R. Statewide, the number reached $285,480. It's a 19.6 percent drop from the same time last year, but the number did jump 4 percent over June. “July marked the fifth consecutive month of month-to-month increases in the median price,” says C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “This was the largest increase on record for the month of July based on statistics dating back to 1979. The yearly decline in July also was the smallest in the past 19 months." NEXT PAGE >> Related headlines 'OC METRO Minute,' Aug. 25: Home prices are not appreciating due to lender-controlled seller's market O.C.'s unemployment rate jumps to 9.5 percent 'OC METRO Minute,' Aug. 19: Home construction, purchases, prices up in O.C. |
||||