California Home Sales Plunge Nearly 18 Percent From 2009
LOS ANGELES (AP) — Home sales in California plunged nearly 18 percent last month from the previous year as historically low mortgage rates failed to draw new buyers.
San Diego-based MDA DataQuick said Thursday that sales declined from about 40,200 in September 2009 to less than 33,200 last month.
Last month's sales were also down about 3 percent from around 34,300 in August.
The median home price in California of $265,000 was up nearly 6 percent last month from $251,000 in September 2009 and up about 2 percent from $260,000 in August.
Foreclosures accounted for nearly 36 percent of last month's sales, virtually unchanged from August but down from 42 percent a year ago.
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