Though housing affordability remains an issue across the state, home sales went up as prices dipped down in July, according to a California Association of Realtors report. (Courtesy of Redfin)
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The median price of single-family homes in Humboldt County is down by a smidgen from June, according to a recently published report.

The California Association of Realtors’ July home sales and price report indicates a 1.7% drop in the median sale price of county homes from $340,000 in June to $334,370 — still up 7.9% from last year’s median of $310,000.

Statewide, the median home price was $607,990, down 0.4% from June and up 2.8% from last year, the report states.

With statewide mortgage rates at the lowest they’ve been in three years, according to the C.A.R., California’s housing market posted “the first year-over-year sales gain and highest sales level in 15 months.”

“Mortgage rates that dipped to the lowest level in nearly three years has helped reduce monthly mortgage payments for the past five consecutive months, giving buyers more purchasing power,” C.A.R. President Jared Martin said in a news release. “The boost in demand gave the housing market its first yearly gain since April 2018.”

In California, July’s sales figure of 411,630 was up 5.6% from the 389,730 level in June and up 1.1% from last year’s home sales of 407,030, according to the C.A.R. Humboldt County reflected the trend as month-to-month home sales increased by 11% and year-to-year sales increased by 9.2%.

C.A.R. Senior Vice President Leslie Appleton-Young said despite these encouraging data housing affordability remains an issue across the state — “especially in high cost areas such as the Bay Area, which requires a minimum annual income well into the six figures to purchase a home.”

Robert Peach can be reached at 707-441-0503.

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