by Calculated Risk on 6/13/2006 07:08:00 PM

The San Diego Union reports: San Diego County home prices take a tumble

The median price of all homes sold in May was $490,000, down $15,000 from April, although it was still slightly higher than a year ago.

Sales slowed for the 23rd straight month on a year-over-year basis, reaching 4,217 transactions in new and existing homes and condos.

Local real estate agents reported about seven months' worth of unsold inventory, but argued that the pace of activity reflects a normal market rather than a crash.

DataQuick will report on all of California over the next couple of days.