Home Prices Tumble Further
Median price down nearly 40%
Friday, Feb 20, 2009 | Updated 4:45 AM PDT
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A tracking firm says the median home price in Southern California dropped nearly 40 percent in January from a year ago.
DataQuick says the median home price in a six-county region of Southern California was $250,000 last month, compared to $415,000 in January of 2008. The median price for the area peaked at $505,000 in mid-2008.
Foreclosures accounted for more than 58 percent of January sales in Southern California.
DataQuick says the median home price dropped nearly 46 percent in Northern California.
Copyright Associated Press
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