California home prices drop nearly 15 percent - Real estate- msnbc.com

California home prices drop nearly 15 percent - Real estate- msnbc.com: "LOS ANGELES - The median price of a home in California tumbled nearly 15 percent amid a steep drop in sales in December, a real estate research firm said Thursday.

The median home price hit $402,000 last month, down 14.8 percent from $472,000 in the year-ago period, according to DataQuick Information Systems.

The state’s median home price peaked last spring at $484,000."