Southern California Home Prices Fall 8.2% on Weak Employment
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Southern California home prices fell 8.2 percent last month as unemployment remained high and mortgages were hard to obtain, DataQuick said.
The median paid in the six-county region was $280,000, down from $305,000 a year earlier and unchanged from April, the San Diego-based data seller said today in a statement. Sales fell 17 percent from May 2010 to a total of 18,394 new and resale houses and condominiums, the 11th straight year-over-year decline.