by Calculated Risk on 12/18/2007 01:40:00 PM

From DataQuick: Southland prices fall again; sales perk up

... Sales were the slowest for a November in at least 20 years and the median sale price posted a record 10.3 percent year-over-year decline ...

A total of 13,173 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in November. That was up 2 percent from 12,913 sales in October, and down 42.7 percent from 23,005 in November last year, according to DataQuick Information Systems.

Last month's sales were the lowest for any November in DataQuick's statistics, which go back to 1988. The previous low was in November 1992, when 15,446 homes sold. November has averaged 22,749 sales over the last 20 years.
...
The median price paid for a Southland home was $435,000 last month, down 2.2 percent from $445,000 in October, and down 10.3 percent from $485,000 in November last year. That year-over-year decline is the largest for any month in DataQuick's records. Last month's $435,000 median was the lowest since March 2005, when it was also $435,000.

Foreclosure activity is at record levels ...

Record low sales, record falling year-over-year decline in prices, record foreclosure activity - sounds like a broken record.