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Home prices, sales dip in July: Median slides to $615,000, down $14K from June

Home prices, sales dip in July: Median slides to 5,000, down K from June

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The median price of an Orange County home – or the price at the mid-point of all sales – was $ 615,000, down $ 14,500 from June’s pricing. Sales totaled 3,692 last month, 139 fewer than in June. Still prices and sales were at eight- to 10-year highes for the month of July, CoreLogic figures show. JEFF COLLINS, STAFF

The median price of an Orange County home – or the price at the mid-point of all sales – was $ 615,000, down $ 14,500 from June’s pricing. Sales totaled 3,692 last month, 139 fewer than in June. Still prices and sales were at eight- to 10-year highes for the month of July, CoreLogic figures show.JEFF COLLINS, STAFF

Orange County’s housing market cooled a bit in July, with home prices and sales falling slightly from the month before, new figures from market data firm CoreLogic show.

The median price of an Orange County home – or the price at the mid-point of all sales – was $ 615,000, down $ 14,500 from June’s pricing.

Homeowners also closed 139 fewer sales in July, CoreLogic figures show.

The cooling is typical for this time of year. Home prices have dropped from June to July in 16 out of the past 28 years; sales dips have occurred between the two months in 22 of those years, CoreLogic numbers show.

Yet the market still has plenty of steam.

July’s median price was up 5.3 percent year-over-year, the highest annual appreciation rate in nine months. It also was the highest median for a July since the housing bubble burst in July 2007.

CoreLogic also reported sellers closed 3,692 transactions last month. While that’s down slightly from June, it’s up 15.5 percent from July 2014, the biggest year-over-year sales increase in two years.

It’s also the biggest sales tally for a July in a decade, CoreLogic figures show.

Regionwide, home sales hit a nine-year high for July.

“Southern California home sales have risen year over year for six straight months,” said CoreLogic research analyst Andrew LePage. “We’re finally approaching an overall sales level that could loosely be called ‘normal.’ ”

Contact the writer: 714-796-7734 or jcollins@ocregister.com

The Orange County Register – News Headlines : Real Estate News