Digital News Report – The National Association of Realtors reported that existing home sales declined in July while home prices increased.
There were 5,260,000 homes sold in June but only 3,830,000 sold in July (seasonally adjusted). On a non-seasonally adjusted basis, the price increased from $230,000 to $232,000.
In Santa Cruz County there were 175 homes sold in June but only 145 sold in July. Compare that number to the record low of 143 homes sold in July of 2007.
The median price was $510,000, down from $775,000 three years ago (Santa Cruz). Buyers are worried that home prices could fall further.
By: Tina Brown
|
