San Jose Real Estate * REALTOR ® * Richard Gonzalez

Sue McAllister from the San Jose Mercury writes about the July data indicating a surge in median home prices.

Yet another media outlet continuing to share the good news that the San Jose Silicon Valley market is doing reasonably well.

New home sales increased from June to July nationwide, but that gain didn’t extend to California and the Bay Area where the expiration of a state tax credit for new home purchases is being attributed for a drop in sales.

A Commerce Department report released Wednesday showed that sales nationwide surged 9.6 percent in July, rising for the fourth-straight month and beating expectations as the housing market marches steadily back from its historic downturn.

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