The rate of sales in California has gone up in July. There were more than 39,000 new and resold homes that came off the market. This count is 12 percent up from June and 12 percent up from last year. In June there were around 35,200 homes sold. There has been a slight improvement.

There were 44 percent foreclosed homes that were sold in June. The average home sold for $318,000 in July while in June the average price was $328,000. This is a 3% decline in housing prices. Depreciation is considered part of the reason while they way homes are financed and the type of homes that sell are considered other reasons for the decline.

The average mortgage in California in July was about $1500 a month. In June homeowners paid $40 more. A year previous homeowners were paying a much higher mortgage by almost $1,000.

Foreclosure activity has hit a record high while financing, refinancing, and adjustable loans are at an all time low. Even though sales have gone up the result is lower housing prices, lower monthly mortgages, and foreclosures continue to outweigh the amount of homes sold. California still foresees a continuous problem with the housing market with no end in the near future. The city governments hope that things will level off soon as they continue to try to figure out solutions without waiting for the federal government to come up with a way to help the problems that continue.