About that recovery that seemed to be starting in the housing market? Check back later.
The median sale price for Stanislaus County homes dropped to $139,000 in June, according to the most recent report from MDA DataQuick, a real estate research firm.
The figure had jumped to $148,000 in May, raising hopes that prices were rising again after plunging by two-thirds from 2006 to 2009. That report followed 18 months in which the median mostly stayed between $133,000 and $140,000.
The June report suggests that the Northern San Joaquin Valley could be in for a long, uneven recovery from the housing slump.
"I think it's going to take four or five years before we pull out of this," said Larry Rumbeck, an independent real estate agent in Turlock.
He cited the still shaky economy and said prices are under downward pressure from lenders and appraisers who are leery about the market.
The median is the point at which half the homes sell for more, half for less. It reached $396,000 in Stanislaus County in December 2005, up from $122,000 in 1999.
The collapse has led to a tidal wave of foreclosures, major job losses in construction and related fields, and ripples through retail, government and other employment sectors.
San Joaquin County's median price was $168,000 in June, down from $173,000 in May but up from $152,000 in June 2009.
Tuolumne County, where economic troubles were compounded by a sawmill closure last year, had a $177,500 median sale price last month. It was $189,000 in May and $223,500 in June of last year.
June 2010 numbers were not available for Merced County.
The state as a whole is faring better than the north valley, MDA DataQuick reported. The median price was $270,000 last month, down from $278,000 in May but up from $246,000 in June 2009.
In the San Francisco Bay Area, last month's median price was $410,000, the same as in May, but up from $352,000 in June 2009.
John Walsh, president of MDA DataQuick, said the impact of the federal tax credit for first-time home buyers has begun to fade in the Bay Area.
"The next few months should be very interesting," Walsh said. "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 have a better sense of just how much."
In the north valley, prospective owners have a great opportunity to get low-priced homes at low interest rates, said Daniel Del Real, an agent with PMZ Real Estate in Modesto.
He is arranging deals in which buyers will make monthly payments of less than what they pay to rent.
"Your living expenses actually drop by buying a home right now," Del Real said.
The Associated Press contributed to this report.
Bee staff writer John Holland can be reached at 578-2385 or jholland@modbee.com.
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