The Morning Report
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The size-adjusted median for single family homes dropped a fairly hefty 3.6 percent last month — its worst drop since February. The condo size- adjusted median, on the other hand, actually increased by 2.4 percent. But considering the drubbing inflicted upon the condo median over the last few months this rise is not so impressive. Even after the July increase, the median condo price per square foot was 9.4 percent below where it had been just three months earlier.
Combining the two property types, the overall size-adjusted median price was down by 1.6 percent for the month. It has declined by 33.0 percent since peaking in September 2005.
— RICH TOSCANO