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Calif. July Home Sales Up 17 Percent Over June

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(credit: istockphoto.com)

(credit: istockphoto.com)

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textalerts180 Calif. July Home Sales Up 17 Percent Over June

SAN DIEGO (AP) — Housing sales are booming in California as pent-up demand finds increased supply.

The research firm DataQuick said Thursday that 48,118 new and used homes and condos were sold statewide in July — the highest figure for a July since 2005.

Sales statewide were up more than 17 percent from June and nearly 22 percent from a year earlier.

The median sale price was $363,000 statewide, up about 3 percent from June and 29 percent from a year earlier.

In Southern California, the median price was $385,000.

In the San Francisco Bay area, it was $562,000.

Meanwhile, foreclosure rates dropped to the lowest level since July 2007.

DataQuick President John Walsh says there’s talk of a frenzy, but the market really is just regaining ground lost during the housing crash.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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