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by CareyBot

California home sales mixed by region; prices post record declines With sales up slightly in Southern California and down in the San Francisco Bay Area, the only trait common to these regions in May was a sharp drop-off in median home price from last year's level, according to real estate information service DataQuick. The median home price paid in Southern California fell a record 27 percent from a year ago -- from $505,000 to $370,000 -- because of sluggish high-end sales, more sellers dropping their asking prices, and lenders selling off more of their aggressively priced, repossessed homes. In the Bay Area, the median price paid was $517,000 last month, down 0.2 percent from $518,000 in April, and down a record 21.7 percent from $660,000 a year ago. And while Southern Califo...