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.