DataQuick: Southern California home price up to $275,000

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The Southern California median home price rose slightly in August to $275,000. That’s up 2.6% from July, but still down 16.7%, or $330,000, from a year ago.

Total sales dipped about 11% below July levels. That’s likely due to the backlog of foreclosed homes yet to come to market.

The full report from DataQuick is here.

-- Peter Y. Hong

Here’s a video of Peter Hong talking about the numbers.