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California home sales increase by 1.4 percent
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SAN DIEGO (AP) — California home sales continue to climb — with the October sales tally reaching the highest it has been for that month in two years, a research firm said Thursday.

There were 36,830 new and existing houses and condos sold statewide in October 2014. That was up 1.4 percent from September, and up 1 percent from October 2013, according to CoreLogic DataQuick.

Statewide sales have inched up on a year-over-year basis for two consecutive months.

But prices have cooled since this summer, though they are still higher than the same time a year ago.

The median price paid for a home in California in October was $382,000, down 1.8 percent from $389,000 in September and up 7 percent from $357,000 in October 2013.

CoreLogic DataQuick analyst Andrew LePage said it’s still a good time for those looking to buy.

“Prices in a lot of California markets have plateaued since this summer,” he said.

And investors and cash-only buyers have dropped, meaning shoppers are less likely to get into bidding wars over a home.

Year-over-year price increases peaked at 29.2 percent in July last year and since then they have gradually ratcheted down, with single-digit annual gains since July 2014.

Foreclosures continue to dip over a year ago. Of the existing homes sold statewide in October, 5.3 percent were properties that went into foreclosure in the past year. That was down from 6.7 percent in October 2013.