Southern California home prices fell in November, marking the fifth time in six months that prices declined amid a broad slowdown in the housing market.
The six-county region’s typical home price dropped 0.9% from October to $815,911 last month, according to data released Monday by Zillow.
Southern California home prices are falling, eroding equity homeowners could spend on renovations or emergencies. People who bought at the peak are particularly nervous. In Orange County, the typical home price fell 3.4% from October to $1,014,194 last month. Prices are now 8.6% lower than the county’s peak reached in May.
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