Median O.C. Home Price Matches Record

Orange County’s housing market remained strong last month, as the median home price matched the all-time high of $241,000 set in May and the price of a typical existing home surged to a new high of $262,000, a real estate research firm reported. Buyers snapped up homes and condominiums in record numbers during the month, reflecting low interest rates and soaring consumer confidence. A total of 5,129 new and existing homes and condominiums sold last month, the busiest June since the research firm, Acxiom/Dataquick Real Estate Systems Inc., began tracking the market in 1988. Real estate agents said the current market is a bit calmer than the frenzied environment a year ago, when 5,098 homes sold.