Home prices across the country rise in the 4th quarter, drop in California cities

The National Association of Realtors reports: single-family median home prices increased 4% in the fourth quarter from a year ago to more than $378,000. But researchers found that a few markets saw double-digit price drops. For example, San Jose, California, was the most expensive place to purchase a home in the U.S. in the fourth quarter. But the median price in that market of $1.5 million dollars is down 5.8% from a year ago. San Francisco had the biggest price drop in the country, down 6.1% from a year ago. Other areas seeing a drop in home prices include: Los Angeles, Anaheim, California and Boulder, Colorado.