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Morning Mortgage Meltdown: June Prices Tanked

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June saw the median price for new homes and condos in the Bay Area plummeted 27% from a year ago. San Francisco's resiliency in this housing market is starting to wear thing, as the median single-family home price fell by 11% to $726,750. Only blind optimists should really be surprised by this — San Francisco, it seems, is not completely untouchable. Unless, that is, you live in the micro-market of Noe Valley, which is still "going like gangbusters." [SF Gate]