Southern California home prices rise 8.6%

But January's year-over-year increase to $271,500 is a 6.1% drop from December. Total sales climb about 1% from a year earlier.

By Alejandro Lazo
 
February 17, 2010

Home sale prices in Southern California showed fresh strength in January, bouncing 8.6% from the same month one year earlier -- a period when the market was inundated with steeply discounted bank-owned properties.

But compared with a particularly strong December, the median fell 6.1% to $271,500 in January, ending eight consecutive months of price appreciation or stability in the Southland, MDA DataQuick, a San Diego real estate research firm, said Tuesday.

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