Firm: SoCal Median Home Price Plummets 39 Percent

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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 AP - Associated Press
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