Orange County existing home sales up 6.9 percent

Source: Orange County Register

 The median price of an existing single family home hit $549,460 in California last month, up 7.4 percent from July 2016, the latest figures from the CALIFORNIA ASSOCIATION OF REALTORS® show. Orange County’s median price was at $785,000, up 6.9 percent over July 2016, but less than the record high price of $795,000 earlier this summer. The association’s report covers existing, single-family, detached homes only, or nearly two-thirds of the Orange County market. Los Angeles County’s median price reached $566,240, up 10.2 percent since last July; Riverside County was at $385,500, up 7.1 percent. San Bernardino’s median hit $266,250, climbing 8.3 percent. The statewide median price remained above $500,000 for the fifth month in a row. Read the full story Attending bachelor parties may be keeping you from buying a home Source: San Francisco Chronicle You might have heard that it’s really tough for millennials to buy a home these days. They’re drowning in college debt, struggling with a small housing supply because boomers aren’t selling, and it’s all making them feel bummed about their homeownership prospects. Now one report says they may never own a home if they keep attending bachelor parties in Instagram-worthy locations. The real estate site Zillow found that the average cost of attending nine bachelor or bachelorette parties in a person’s lifetime comes surprisingly close to the 20 percent down payment on a median-priced US home. Though, not so much if you’re living in the Bay Area.

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