Wednesday 23.05.2012
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Calif. median home price for Sept. falls 6 percent - Real Estate - Property - Business - USA

Calif. median home price for Sept. falls 6 percent

California 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, a tracking firm said Friday.

San Jose Mercury News | Published: 10/15/2011 19:15

San Diego-based DataQuick said in a report that the median home price in the state fell 6 percent to $249,000 from $265,000 in September 2010.

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

Home sales totaled 35,404 in September, a 6.2 percent decrease from 37,734 in August but an increase of 6.7 percent from September 2010, when 33,176 homes were sold.

A decline from August to September is normal for the summer season, DataQuick said. Statewide home sales for the month of September have averaged 43,939 since DataQuick began keeping track in 1988.

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