Firm: SoCal median home price steady in September - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Firm: SoCal median home price steady in September

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A tracking firm says the median home price in Southern California held steady last month from August, at $275,000.

San Diego-based MDA DataQuick reported Tuesday that the median price in the six-county region of Southern California was 11 percent lower than the September 2008 median price of $308,000. That price is the median's lowest year-over-year decline since November 2007.

Sales were up two-tenths of a percent from August to September. The firm says sales were bolstered by late-closing summer transactions, low mortgage rates and buyers hoping to take advantage of a soon-to-expire tax credit.

In Orange, San Diego and Ventura counties, the median prices paid for resale houses increased for the first time since at least August 2007.

Copyright 2009 The Associated Press.

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