The California Association of Realtors says that housing prices has cooled off after the prices have remained at its peak all throughout the summer. The magazine says that the “existing, single-family home sales totaled 431,800 in August on a seasonally adjusted annualized rate, down 3.8 percent from July but up 9.3 percent from August 2014”. It was the 42nd straight month of annual price gains.

Sales figures dipped 14.5 percent, in the Contra Costa County, between July and August.

During the June through August summer selling season, there were 70,046 sales, the most since 84,037 in the same three-month span in 2006, said CoreLogic analyst Andrew LePage. Instead, they claim affordability is likely the factor behind the drop. “August experienced only a two-year high for sales”.

The median price paid for a Riverside County home was $315,000 in August, up from $299,000 one year earlier. In contrast with San Francisco, the home prices are very expensive plus there are too few sometimes none at all in its inventory. The median sale price recorded the year earlier was $420,000. Mark Goldman, a real estate lecturer at San Diego State University, said the market was supported by a growing sense of job security among consumers and an economy that is “chugging along”.

The median price for all homes sold in the Bay Area in August was $650,000, down 1.3 percent from July’s $658,500, but up 6.2 percent year-over-year from $612,000, data show.

An article in the San Francisco Chronicle this morning reports that both Bay Area home sales and prices are down, based on a report from CoreLogic. That was down 12.2 percent from 24,317 in July and up 8 percent from 19,765 in August 2014.

Sales of distressed properties – foreclosures and short sales in which the transaction price is under the balance of the mortgage – accounted for a 4 percent market share.