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San Diego County Home Prices Rise

POSTED: 11:36 am PST November 17, 2009
UPDATED: 1:01 pm PST November 17, 2009

Home sales in San Diego County fell by 2 percent in October, compared to the same month a year ago, while prices rose by 0.5 percent, a real estate information service reported Tuesday.

A total of 3,671 homes sold in October, up from 3,598 for October 2008, while the median price of a home in San Diego County last month was $325,000, up slightly from $323,500 in the same month a year ago, according to La Jolla-based MDA DataQuick.

According to DataQuick, 22,132 homes were sold in the six-county Southern California region in October, up 2.8 percent from 21,539 in September and up 2.8 percent from 21,532 in October 2008. Home prices across the region -- including Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties -- dipped 6.7 percent to $280,000.

"The government is playing a huge role in stabilizing and, to some extent, reinvigorating the housing market," said John Walsh, MDA DataQuick president. "Its actions have triggered ultra-low mortgage rates, plentiful low-down-payment financing, an extended and expanded tax credit for home buyers, and programs and political pressure aimed at reducing foreclosures."

The median price of a Southern California home was $280,000 in October, up 1.8 percent from $275,000 in September but down 6.7 percent from $300,000 in October 2008.
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