SoCal Median Home Price Stable Since January

The median home price in Southern California has been stable for three straight months while sales have been increasing, a real estate tracking firm said Wednesday.

The figures indicate "the market may be exploring price floor levels," MDA DataQuick said in its report.

The median price in the six-county region stood at $250,000 in March, a figure that has been stable since January but was down 35 percent from March 2008.
The firm also said sales increased 52 percent last month from the year-ago period, led by low-cost foreclosure deals in inland neighborhoods.
Foreclosures accounted for more than 55 percent of all sales last month in Southern California.

Copyright AP - Associated Press
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