Home prices at four-year low: "SAN FRANCISCO -- With bargain-priced foreclosures glutting the market, the median price paid for a Bay Area home in June plunged below the half-million-dollar mark for the first time in four years, a research firm reported on Thursday.
The $485,000 median price for resale homes, new homes and condos was a breathtaking 27 percent drop from the peak $667,000 median reached just one year ago, in June and July 2007, according to DataQuick Information Systems of La Jolla. It was the lowest median since March 2004, when the benchmark stood at $469,500."
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From $667,000 to $485,000 in one year. Holy price collapse, Batman.
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