South Bay Vision – Market Update

The California Association of Realtors released their report on California existing home sales and median prices in July. The statewide median price rose over the 12 months ending in July by 7.1% to $464,750. Although June marked the end of the 23 months of double-digit prices increases, the median single-family home price in California has now risen on a year-over-year basis for 29 months.

“Home prices continued to march higher across much of the U.S. in July. Most states are reaching price levels not seen since the boom year of 2006,” said Anand Nallathambi, president and CEO of CoreLogic. “Our data indicates that this trend will continue, with more states hitting new all-time peaks this year and into 2015 as the recovery continues.”

Please enjoy. Should your plans include real estate purchase and sales, please call or email with questions – and as always, thanks for your referrals!

Sources:

*LAEDC / Volume 18 N. 34

** HousingWire / Trey Garrison CoreLogic 9-2-14

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