Home sales in the Los Angeles metro area rebounded in July, reaching a five-month high, driven by the lowest interest rates since spring. Sales increased by 3.6% from June and were up 4.1% year-over-year. However, the median price of single-family homes dipped 1.6% to $886,560, despite a 6.5% increase compared to July 2023. The Los Angeles metro area's median price rose to $849,000, while Orange County's median decreased by 4.1% to $1.39 million. Experts predict potential further softening of prices but moderate annual growth.
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