CA: Median Home Price Declined 4% in August Over 2010

California Real EstateCalifornia home prices declined in August from their year-ago levels for an 11th consecutive month, with bargain-priced short sales and foreclosures making up more than half of all transactions, a tracking firm said Friday.

San Diego-based DataQuick said in a report that the median home price in the state declined 4.2 percent last month to $249,000 from $260,000 in August 2010.

The median was down 1.2 percent from $252,000 in July. Home sales were up 10.2 percent to 37,734 from 34,239 a year ago, when the transactions fell off with the passing of the federal tax homebuyer tax credit.

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