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October 14, 2011
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California's median home price down 6 percent

LOS ANGELES (AP) - A tracking firm says California's home prices declined in September from their year-ago levels for a 12th consecutive month with bargain-priced short sales and foreclosures making up more than half of all transactions.

San Diego-based DataQuick says in a report Friday that the median home price in the state declined 6 percent last month from $249,000 from $265,000 in September a year ago.

The bottom of the current cycle was $221,000 in April 2009, while the peak was at $484,000 in early 2007.

Home sales were down 6.7 percent to 35,404 from 37,734 in August. A decline from August to September is normal for the summer season.

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Tahoe Daily Tribune Updated Oct 14, 2011 05:15PM Published Oct 14, 2011 05:14PM Copyright 2011 Tahoe Daily Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.