Firm: California median home price down 40 percent
By JACOB ADELMAN
Associated Press Writer
LOS ANGELES -- A tracking firm says the median home price in California dropped 40 percent in February from a year ago.
MDA DataQuick also says in a report released Thursday that home sales jumped nearly 43 percent.
DataQuick says the median price in the state was $224,000 last month, compared to $373,000 in February of 2008.
Foreclosures accounted for 58 percent of home sales in California last month.
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Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.
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Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
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Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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