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Bay Area housing market strengthened in July

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The Bay Area’s housing market steadied in July as sales remained strong, prices rose and fewer foreclosures sold.

Sales rose year-over-year for the 13th month in a row, with increasingly more “move-up” and pricier homes selling.

Sales fell 1.4% from the prior month and were up 22.9% from the same month a year earlier, real estate firm DataQuick reported. A total 8,461 homes sold in the nine-county Bay Area.

The region’s median home price hit $421,000 last month, up 1.0% from June and 12.6% from July 2011. That was the highest median, which is the point at which half the homes in the area sold for more and half for less, since August 2008.

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Foreclosures accounted for just 15.7% of the market last month, down from a revised 17.8% in June and 25.9% in July 2011.

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