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Southern California Home Prices Cool In September

SAN DIEGO — A research firm says increases in Southern California home prices cooled in September as the supply of properties for sale grew and investor interest waned.

DataQuick said Wednesday that the median sales price for new and existing houses and condominiums in the six-county region was $382,000, up more than 21 percent from the same period last year. It's the 14th straight month of double-digit percentage increases but the median fell slightly from summer months.

There were more than 19,100 homes sold, a 7 percent increase from September 2012.

Some of the median price increase comes from a shift in sales to more expensive homes. DataQuick says sales of $500,000 and up soared more than 42 percent from last year.

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