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Report: Home Prices Fall In Southern California

POSTED: 12:05 pm PST November 18, 2008
UPDATED: 12:16 pm PST November 18, 2008

A real estate tracking firm says the median home price in Southern California fell 33 percent in October from a year ago while the number of homes sold soared.

In its report Tuesday, San Diego-based MDA DataQuick says the median price for homes and condos tumbled to $300,000 last month from $445,000 in October 2007.

There were 21,532 homes and condos sold in Southern California last month, up 67 percent from the year-ago period.

Foreclosures accounted for 51 percent of sales of existing homes and condos in October, up from 16 percent in October 2007.

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