The figures released Wednesday by MDA DataQuick show the median home price in the six-county region fell 34 percent to $330,000 in the year ending last month.

The figure was down from $500,000 in August 2007 and dropped 5.2 percent from $348,000 in July.

A total of 19,366 homes and condos were sold last month, up 9.1 percent from August 2007 but down 4.7 percent from July.

"Foreclosure activity remains high, credit is still tight, affordability remains strained on the coast and the job market is soft," MDA DataQuick president John Walsh said. "Some expect prices to bottom out soon. ."‰."‰. That may happen, but history suggests that few of us will time the bottom precisely."

It was the second consecutive month that the number of home sales had increased compared with year-ago periods.

The University of Southern California's Lusk Center for Real Estate, said prices had reached a level that made buying a more attractive alternative to renting.

"Owning is starting to make sense financially. That wasn't the case two years ago," he said. "Fundamentally, I think house prices in California are where they should be."