LOS ANGELES (AP) – A real estate tracking firm says the median price of a home in California plunged about 34 percent last month from a year ago, reflecting a surge in the sale of foreclosed homes. Figures released Thursday by MDA DataQuick show the statewide median home price in October declined to $278,000 from $424,000 in the same month last year. October’s median price declined 1.8 percent from September. Statewide home sales jumped nearly 64 percent from a year ago to 42,293 and nearly 5 percent from September. Foreclosure resales accounted for nearly 53 percent of preowned homes sold last month.
Filed under: State News
