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Afternoon Market Report

And so DataQuick employees, having spent a feverish week counting up all that data--and quick!--offer up this July report: Sales in the Southland fell to their slowest pace in 12 years---27%---while the median price of all homes sold in our region's six counties rose 3.7% to $505,000. Is this a case of the high end of the market pushing things up? Yup. Other details from the report:
--Los Angeles County's median price rose 5.3%, to $547,000, while sales dropped 23%.
--Are all those foreclosures bringing down prices? Not really.
--17,867 new and resale homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in July, a 54% plunge from July 2003.
· Southland home sales slow again, but prices are steady [LA Times]