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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Realtors Report Increase In S.F. House Prices, Drop In Sales
Posted on 08/30/2007 05:52:40 | Link | Post Comment
The California Association of Realtors reported today that the median sales price of a San Francisco house rose to $841,660 in July, up 6.9% from the year before. Sales of existing single-family houses fell 9.8% last month from July ‘06.
The association also calculated that it would take 19.9 months to sell all the houses listed for sale in Orange County last month based on the current sales pace. That compares to a 10.8-month supply of listings in July 2006, the association reported. (An inventory estimate by Aliso Viejo RE/MAX broker Steven Thomas differs because he uses all homes — not just houses — in his calculation, which also was based on mid-August sales and inventory numbers.)
Realtor numbers mirror a trend that Orange County has seen for the past year: flat home prices, sagging sales and steadily rising inventory levels. Prices have fallen on a year-over-year basis in 10 of the past 12 months, association figures show.
(To read the association’s news release, CLICK HERE.)
Housing Bubble and Real Estate Market Tracker from SA for 8/28
The association also calculated that it would take 19.9 months to sell all the houses listed for sale in Orange County last month based on the current sales pace. That compares to a 10.8-month supply of listings in July 2006, the association reported. (An inventory estimate by Aliso Viejo RE/MAX broker Steven Thomas differs because he uses all homes — not just houses — in his calculation, which also was based on mid-August sales and inventory numbers.)
Realtor numbers mirror a trend that Orange County has seen for the past year: flat home prices, sagging sales and steadily rising inventory levels. Prices have fallen on a year-over-year basis in 10 of the past 12 months, association figures show.
(To read the association’s news release, CLICK HERE.)
Housing Bubble and Real Estate Market Tracker from SA for 8/28
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