Daily Real Estate News  |  July 16, 2010  |

Where California goes, eventually, the rest of the country follows. That’s why it appears to be good news that the state’s home sales rose more than 7 percent in June compared with May, according to real estate tracking firm MDA DataQuick.

Median prices declined about 3 percent. DataQuck says that’s because foreclosures remain high — but down from what they were — and speculative buying continues.

“The next few months should be very interesting,” DataQuick President John Walsh says. “We’re about to see how well the housing market can fly on its own. The tax credits no doubt stole some demand from the rest of this year, and soon we’ll see have a better sense of just how much.”