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Friday, September 19, 2008

California: Home Sales Rise, Prices Fall

From Realtor Magazine Online, Daily Real Estate News September 19, 2008

California Home sales rose 13.6 percent in August, according to MDA DataQuick.

Nearly 47 percent of all homes sold in California last month were foreclosed properties, pushing the median home price down 35.3 percent to $301,000 compared to August 2007.

Sales were restrained by difficulty obtaining loans for the region's high-priced homes, MDA DataQuick president John Walsh said."Mortgage availability will eventually loosen up, we just don't know when,” Walsh said.

Source: The Associated Press (09/18/08)
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