Firm: California Home Prices Dip 2 Percent In November
LOS ANGELES (AP) -- California's median home price dipped more than 2 percent last month to $255,000 from $261,000 in November 2009, as slow sales in the state's higher-priced markets tipped the balance toward cheaper homes.
San Diego-based MDA DataQuick said Thursday that the state's median was down only slightly from $246,000 in October.
Home sales fell about 12 percent from around 35,900 in November 2009 to about 31,400 last month. Last month's sales were down some 4 percent from about 32,700 in October.
Foreclosures accounted for about 38 percent of last month's sales, down from more than 40 percent in November 2009 but up from about 37 percent in October.
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