The median price of single-family homes in the SCV is now officially at $510,000….

In a trend that doesn’t seem to end, the prices of homes continue to go up in the Santa Clarita Valley, reflected by last month’s numbers from a local Realtors group. 

For the second straight month, though, more homes were on the market than were sold.  Because of increasing interest rates, the buying frenzy is starting to slow. 

The average interest rate for a 30-year fixed mortgage load ranged from 5.82 to 5.99 percent in August, according to Freddie Mac.

More on this story can be found in today’s Signal.