LOS ANGELES(AP)
Housing data show home sales in California surged more than 12
percent in July from a year ago _ the biggest sales jump in four
years.
MDA DataQuick says in a report released Tuesday that 39,507 new
and preowned homes were sold statewide last month. That's up
12.3 percent from July 2007 and up 12.2 percent from June's
total.
The firm says that 44.8 percent of all the homes sold last month
were foreclosed properties.
The surge in foreclosure sales and home depreciation coupled
with fewer sales of high-end homes helped drive down the statewide
median home price to $318,000, a decline of 33.5 percent from July
2007.
The statewide median home price peaked in May 2007 at
$484,000.
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