Home sales in Southern California and statewide slowed in August, with a 2.3% decline in the region compared to last year and a 5.3% drop from July. Los Angeles County saw a 3.2% decrease from July, while Orange County dropped 6.5%. Statewide sales fell 6.3% from July but were up 2.8% year-over-year. The median price for single-family homes varied, with slight declines in some areas but increases in others. Experts suggest that improved mortgage rates could boost housing demand as the year progresses.
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