May-June drop in home prices

The cooling of home prices in the Bay Area continued in June with the largest monthly drop during this time of the year in at least 30 years. Prices declined 7 percent on average from May to June.

Analysts pointed to the usual reasons for the drop: rising interest rates, homes staying longer on the market along with the uncertain economy.

Alameda County saw the largest decline at 8 percent, while Contra Costa County homes dropped 5 percent.

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