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Housing sale slow-down in Southern CA

Southern California home sales continue to slow. A real estate tracking firm says last month's sales total was the lowest for a July in nearly 10-years. KPBS Reporter Ed Joyce has more.

San Diego-based DataQuick says while sales typically drop from June to July, last month's 22-percent drop in six counties was the biggest since it started tracking the market in 1988. DataQuick spokesman John Karevoll says sales of San Diego County homes dropped nearly 30-percent from July of last year to July of this year.

Karevoll: We're not quite sure if this is, you know, a lull here where we're in for some low numbers here for the next half-year or if this is indeed the beginning of a bigger decline in the market there. It's probably more of a lull phenomenon though than any impending downturn in the market there.

Karevoll says the price of a median family home in the county was $487,000
last month, a slight decrease from a year ago. Ed Joyce, KPBS News.

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