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