Home value below $400,000 for first time since late 2003
By Roger Showley
and Lori Weisberg
STAFF WRITERS
April 16, 2008
San Diego County's median home price tumbled below the $400,000 mark last month for the first time in nearly five years as the region grappled with rising foreclosures and defaults, DataQuick Information Systems reported yesterday.
The overall median stood at $395,000, down $20,000 from February and off 19.4 percent from a year earlier. It was the first time since November 2003 that prices were below $400,000.
There continued to be few buyers in the market, with sales volume the lowest of any March in 20 years. And a growing share of the homes that changed hands were foreclosure properties, typically unloaded by the lender at a discount.
Read More: http://www.signonsandiego.com/uniontrib/20080416/news_1n16housing.html
