Southern California Home Prices Fall Flat In February

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LOS ANGELES (AP) — A tracking firm says Southern California’s median home price was unchanged in February from its year-ago level of $275,000 and up less than two percent from $270,000 in January.

San Diego-based MDA DataQuick said Tuesday that job security fears and concerns that prices haven’t yet reached bottom are helping keep the median relatively flat.

Home sales fell more than 6 percent from around 15,360 in February 2010 to about 14,370 last month, their lowest level for a February since 2008.

Sales were down less than 1 percent from about 14,460 in January.

Foreclosures accounted for 37 percent of last month’s sales.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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