Home buyers being patient

As the median price nationwide for a single-family house increased 4.3 percent to $279,600 in the second quarter, according to the National Association of Realtors, prices in many of the country’s most expensive markets – including San Jose and San Francisco actually declined.

Analysts report that buyers are more cautious and not rushing to buy as in years past, perhaps hoping for further declines. Lower-end properties remained out of reach of most first-time buyers.

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