State home prices rise as sales dip
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The median price of California houses and condominiums hit a record $384,000 in July, even as the pace of home sales declined from the previous month.
The July median price represents a half-percentage-point increase over June’s $382,000 and a 20.8% hike from $318,000 the same month a year ago, according to DataQuick Information Systems statistics, which cover all sales of new and resale houses and condominiums.
For the month, 63,700 homes were sold statewide, down 4.7% from June and up 7.7% from July 2003. A slight drop in sales volume from June to July is normal, DataQuick said. Typically June and August have the largest number of sales in the year.
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