SoCal median home price plummets 39 percent

March 17, 2009 12:00:00 AM PDT
A tracking firm says the median home price in Southern California dropped 39 percent in February from a year ago. MDA DataQuick also says in a report released Tuesday that home sales jumped more than 41 percent as bargain-hunting buyers descended on homes in the region's most affordable inland neighborhoods.

DataQuick says the median home price in a six-county region of Southern California plunged to $250,000 last month, compared to $408,000 in February of 2008. The median price for the area peaked at $505,000 in mid-2007.

Foreclosures accounted for more than 56 percent of February sales in Southern California.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

-----------------------------------------------------------------------------------------------


abc30 News Links:
Links to other news sections on our website.

-----------------------------------------------------------------------------------------------

Breaking News Alerts:
Click Here to Sign-Up for Breaking News E-Mail Alerts
Receive Breaking News alerts in your email inbox.


Click Here to Sign-Up for Text Message Alerts
Receive Breaking News alerts right on your cell phone.


-----------------------------------------------------------------------------------------------

Load Comments