Southern California Housing Wipeout: Prices Plunge 27% or $135,000 in the past 12 months

For those of you keeping score at home, THAT'S $370 PER DAY OR $11,250 A MONTH!

Should have rented... Should have listened to HP, and not a realtor on commission..

Thank you Lawrence Yun.

Thank you David Lereah.

Thank you Leslie Appleton-Young.

Thank you Connie DeGroot.

Thank you Mike Norman.

Thank you Tom Adkins.

Thank you to the lying, deceitful, self-serving, ignorant and now ramen-eating and forever discredited army of six percenters.

You can all go home now (if you still have a home). Your services are no longer needed.

SoCal Home Prices Plunge 27% in May

Housing prices across Southern California plunged a record 27% in May, signaling that more trouble lies ahead for builders and lenders exposed to the region.

Sales volume in the market fell 15% from a year ago, marking the slowest May in more than 20 years, according to DataQuick Information Systems.

The median price fell to $370,000 from $505,000 in the counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura.