California News

Oct 12, 2012 1:27 PM by Associated Press

Southern California home prices rise in September

SAN DIEGO (AP) - Southern California home prices posted a sixth straight annual increase last month as buying shifted to more expensive houses along the coast.

DataQuick said Friday that the median price for new and existing homes and condominiums in the six-county region reached $315,000 in September, up nearly 13 percent from the same period last year. It is the highest median price in more than four years.

Fewer than 18,000 homes sold, down nearly 2 percent from September 2011. DataQuick says there were fewer business days this year and sales of properties in foreclosure during the previous year hit a five-year low.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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