CAR.org - "C.A.R. reports median price of a home in California at $575,800 in June, up 6.2 percent from year ago; sales decrease 26.3 percent" (7-25-06)

“Mortgage interest rates continued to edge up for the fifth consecutive month in June, contributing in part to a slowdown in sales,” said C.A.R. Chief Economist Leslie Appleton-Young. “June 2006 was the first time since late 2001 that the sales pace fell below 500,000 for two consecutive months. Home sales declined 26.3 percent last month compared with June 2005, when they hit the third-highest monthly pace on record.”