But even the cheapest homes are now struggling to sell, according to a report released Tuesday by Douglas Elliman Real Estate. It found that the number of sales fell for a fourth straight quarter, by.
The median sales price for new home sales in July was $257,200 down from $258,500 in June; the average sales price was $322,700, up from $302,200 in June. However, it appears demand for homes may have cooled off, as buyers hit by higher rates have started to draw back from the market.
Homebuying in Newport Beach, Laguna Beach and Costa mesa fell 13 percent this summer vs. a year ago. It was the slowest-selling third quarter in four years for Orange County’s housing market, as.