2013 Sep 14, 1:59am
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The sizzling Bay Area housing market cooled in August following one of the most dramatic run-ups in recent years, according to a report released Friday. After months of increases, single-family home sales dropped 3.2 percent from a year ago, and were down 8.8 percent from July, according to real estate information service DataQuick. While the median single-family price of $588,000 extended several months of double-digit annual gains, it was 3.9 percent lower than it was in July, the first such drop in six months, DataQuick reported. The market is stabilizing, said Arvin Paredes of Keller Williams in Campbell. "The competitive...