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Calif Homes Prices, Sales Down In Feb From Year Ago

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(AP Photo)

(AP Photo)

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LOS ANGELES (AP) — Home prices and sales dipped in California from year-ago levels as “short sales” and sales of foreclosed homes accounted for more than half of home resales in the state.

San Diego-based DataQuick Information Systems said Thursday that the median price paid in the state last month was $244,000, down 2 percent from $249,000 in February 2010.

The median is up about 2 percent from $239,000 in January.

Home sales in February dipped nearly 3 percent to about 27,300 from around 28,100 in February 2010. Sales were down over 1 percent from 27,700 in January.

Foreclosures made up more than 40 percent of last month’s sales.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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