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South Coast Home Price Increases Slow
| The increase in home prices on the South Coast slowed last month, exhibiting the smallest rise so far this year the California Association of Realtors reported Monday. The median price for July reached $810,000 up only about 1 percent over the median a year ago of $799,000, the CAR said. The number of homes sold hit a high for the year with 114 homes, an increase of 18 percent as the median price increases slowed. This compares to 54 sold in January and 101 sold in June. In January the median price jumped more than 28 percent compared to a year earlier. Prices also posted double-digit increases in February and March compared to 2002. Price increases began to slow more substantially in the spring. Between April and June, the South Coast median increased only in the single digits, between and 3 and 7 percent. |