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California Home Sales Perk Up In July

August 28, 2019

Existing single-family home sales rose 5.6 percent from June and up 1.1 percent from July 2018, according to the California Association of Realtor’s August report. Meanwhile the statewide home prce was $607,990, down 0.4 percent from June and up 2.8 percent from July 2018. The association said the lowest mortgage interest rates in nearly three years helped jump start the state’s housing market, which posted the highest level of sales in 15 months. 

“While it’s encouraging that home sales crept higher in July, the market will continue to be challenged by an overarching affordability issue, especiallty in high cost areas such as the Bay Area, which requires a minimum annual income well into the six figures to purchase a home,” said CAR Chief Economist Leslie Appleton-Young. 

CA BRE #01211313

Coldwell Banker Residential Brokerage
CA BRE #00616212

5 Moraga Way
Orinda, CA 94563

info@lamorindahomefinder.com

Office: 925-923-4600
Mobile: 925-878-2334
DRE: #01211313

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