California’s median home price falls 38 percent (AP)

Tom Hanson, bottom, and Ruel Villanueba put up a new home sales sign at a development in San Jose, Calif., Wednesday, Jan. 21, 2009. California home sales rose sharply last month, but the median price plummeted 38 percent from a year ago, as more bargain hunters scooped up foreclosure properties, a real estate tracking firm said Wednesday. (AP Photo/Marcio Jose Sanchez)AP – The median home price in California plummeted 38 percent in December from a year earlier as low-cost foreclosures boosted sales but lowered property values, a real estate tracking firm said Wednesday.

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