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A blog about the economy and the Sacramento-area real estate market.

July 15, 2010
Bay Area: June home sales top May

June sales of existing and new homes rose slightly from May in the San Francisco Bay Area, researcher MDA DataQuick reported minutes ago.

The newest market snapshot showed that the region's median price of $410,000 is up 16.5 percent above the same month last year. DataQuick says the next few months will prove whether the housing market can continue rising with the expiration of federal $8,000 first-time buyer tax credits.

Other highlights:

- Jumbo loans above $417,000 accounted for 33 percent of sales.

- 11.9 percent of sales involved adjustable-rate mortgages.

- Buyers presumed to be investors bought 16 percent of the homes sold in June.

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