29_35x90 knx_35x90

Local

Home Prices, Sales Down In Feb From Year Ago

View Comments
(credit: AP)

(credit: AP)

Photo Galleries

LOS ANGELES (AP) — Home prices and sales dipped in California from year-ago levels as “short sales” and sales of foreclosed homes accounted for more than half of home resales in the state.

San Diego-based DataQuick Information Systems said Thursday that the median price paid in the state last month was $244,000, down 2 percent from $249,000 in February 2010.

The median is up about 2 percent from $239,000 in January.

Home sales in February dipped nearly 3 percent to about 27,300 from around 28,100 in February 2010. Sales were down over 1 percent from 27,700 in January.

Foreclosures made up more than 40 percent of last month’s sales.

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 This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 2,375 other followers