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Oahu home resales fall in June

Sales of existing homes on Oahu were down more than 15 percent in June, and median prices were about flat or slightly lower, according to a Honolulu Board of Realtors report released today.

The number of single-family home sales fell 16 percent last month to 248 from 295 in the same month last year. The median price was down 3.4 percent to $562,500 from $582,500 in the period.

Condominium sales fell 20 percent last month to 354 from 442 a year earlier. The median price, which is a point at which half the homes sold for more and half for less, was up by just $1,000, or 0.3 percent, to $301,000.

Joyce Nakamura, president of the trade association, said the sales volume declines weren’t unexpected because activity in June 2010 was spurred by a federal tax credit.

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