Sales statistics from Data Quick show an improvement in median home prices.  The median price of an Orange County home rose 2 percent from May, to $495,000. Though a modest increase, it's the first time the price has risen month-to-month since November of 2007. Total home sales in June 2008 were down from a very strong May.

What is the median price of a home mean? The median price is the price at which 1/2 the homes sell above and 1/2 the homes sell below. In perspective, the median price reported in June of 2008 fell 23.3 percent from the previous June ($150,000) in a year.  Why?  Because the majority of foreclosures and sales activity are in a price range below $500,000.  This activity drives the median price home lower Keeping you informed about the Orange County real estate market and the economy is what I'm committed to doing.    

Keeping you informed about the Orange County real estate market, economy and life in the OC is what I'm committed to doing.    

For more great Orange County market insight and industry news visit Laguna Niguel Real Estate or view the Orange County Market Trends at Orange County Real Estate.  

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