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Home Prices Show Modest Gains

Home prices picked up a bit in Fairfield last month, although sales remained weak. The number of houses sold declined by 3.6 percent in the two months ending July 10, compared with the same period a year ago, according to Trulia.com.

The market showed modest strength. The median price rose 13 percent from the prior quarter, to $500,000. Nevertheless, that's 5.7 percent below the median last year.

The median is the midpoint. The same number of houses sold above that price as sold below it. A rising median means that more homes are being sold at higher prices than in the previous period. The stronger the increase, the better the market. The numbers of Fairfield are barely okay.

Sellers have gotten the message from their Realtors. Listing prices are staying relatively flat. To move a house, a seller must offer something special in the price..

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