The York County housing market continues its tumble as midyear numbers released Monday show an 18 percent decrease from 2010.
Through June, a total of 1,680 homes were sold, down from 2,049 through six months of 2010, the Realtors Association of York and Adams Counties said.
The median sale price also dropped 7 percent to $140,000 from $150,000 in 2010, the report said.
The bright spot for York County sales was in the South Eastern School District, where sales were up 20 percent — 78 units were sold — from the 2010 total of 65 through June.
The biggest price jump was in the Northern York County School District, where sale prices increased to $204,500 from $172,950 — an 18 percent gain.
“The market is being constrained by the lending community and distressed home selling at discounts,” Marty Sowa, president of the association, said in a statement.
The volume of buyers has dropped from where it was in 2010, local real estate professionals have said. A federal homebuyers’ tax credit that provided an $8,000 incentive to first-time buyers was still available until April 30, 2010.
There also is concern about a number of proposals being considered in Washington, Sowa said. Among them is a proposed reform as part of last year’s Dodd-Frank Act that could require steep minimum down payments.
Dodd-Frank is a 2,300-page federal law that regulates financial institutions ranging from Wall Street to banks to mortgage lenders.
The reform criteria would require lenders to retain 5 percent ownership of loans they originate unless the “qualified residential mortgage” has a minimum down payment of 20 percent. The proposal also contains strict debt-to-income ratios and borrower credit history restrictions.
These proposals could “further jeopardize the housing recovery,” Sowa said.