Sep 17, 2015 3:53 PM by News Staff
SAN DIEGO (AP) - A research firm says California's summer housing rally cooled in August as tight supplies kept a lid on sales and some buyers found prices out of reach.
CoreLogic Inc. said Thursday that the median sales price for new and existing houses and condominiums was $409,000, down from a 7 1/2-year high of $415,000 in July but up more than 4 percent from August 2014.
More than 41,600 homes sold throughout the state, up 9 percent from a year earlier.
The numbers represent a modest slowdown from early summer, when prices surged and sales were unusually robust.
In Southern California, the median price rose 4 percent from last year to $438,000. The median price in the San Francisco Bay area rose 6 percent to $650,000.
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