The median home price in California dropped 40% in February from a year earlier, a real estate tracking firm has said.
MDA DataQuick also said that home sales in the state jumped nearly 43%.
The San Diego company said the median price was $224,000 last month, compared with $373,000 in February 2008.
Foreclosures accounted for 58% of home sales in California last month.
In Northern California, the median home price plunged 46% in February from a year earlier, dropping the figure to its lowest level since 1999, MDA DataQuick said.
Los Angeles Times