Still Falling

And it continues

"The median home sale price in six Southern California counties was $370,000, down from $505,000 a year earlier, according to DataQuick Information Systems. DataQuick said that was the biggest annual decline it has recorded since it began tracking prices in 1988.

The last time the median was lower was in March 2004, when it was $364,000."
Source


In the Bay area things are falling slower, but still pretty dramatically without sign of slowing.

" Properties priced below $513,218 plummeted about 33 percent since February 2006. In contrast, medium-priced houses, between $513,218 and $756,420, declined 22 percent while high-priced homes, above $756,420, fell just 6.8 percent."
Source