California Association of Realtors just released its report for July 2009 real estate activity.

Calif. median home price - July 09: $285,480 (Source: C.A.R.) (note: compared to $274,740 last month)

Calif. highest median home price by C.A.R. region July 09: Santa Barbara So. Coast $885,000 (Source: C.A.R.) (note: compared to $850,000 last month)

Calif. lowest median home price by C.A.R. region July 09: High Desert $110,650 (Source: C.A.R.) (note: compared to $108,600 last month)

Calif. First-time Buyer Affordability Index - Second Quarter 2009: 67 percent (Source: C.A.R.) (note: compared to 69 percent First Quarter 2009)

Mortgage rates – week ending 8/20/09:

• 30-yr. fixed: 5.12%; Fees/points: 0.7% (note: compared to 5.2% and 0.7% points last report)
• 15-yr. fixed: 4.56%; Fees/points: 0.7% (note: compared to 4.68% and 0.7% points last report)
• 1-yr. adjustable: 4.69%; Fees/points: 0.5% (note: compared to 4.77% and 0.7% points last report)

- California Association of Realtors & Freddie Mac

* Note that median prices are coming back up again. As always California real estate is a good value as long as you stay in it for the long term! – Janis Stone, DRE# 00517072