Southern California Home Prices Fall 1.8% Amid Tight Credit
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Southern California home prices fell 1.8 percent in April from a year earlier as distressed properties accounted for half of purchases and mortgages were hard to get, according to DataQuick Information Systems Inc.
The median price of a home sold in six area counties was $280,000, down from $285,000 in April 2010, the San Diego-based data seller said today in a statement. Sales dropped 9.2 percent, the 10th consecutive year-over-year decline.