SC home prices finally drop

For 83 straight months, median home prices in Southern California have risen year-over-year. No more.

That streak ended last month, when the median price of a single-family home or condominium dropped 0.1 percent, from $519,000 to $518,500, according to data released by CoreLogic in Irvine.

That was the first year-over-year price drop since March 2012, when the median price fell 0.2 percent.

Sales were also down 14.1 percent between March of 2018 and March of this year, although they did rise 33.4 percent between February and March.

In the Inland Empire, year-over-year sales were down 11.1 percent in Riverside County and 9.5 percent in San Bernardino County.

Median prices – $389,500 and $336,000 – were increases of 3.9 percent and 2.1 percent, respectively, compared with March 2018, CoreLogic reported.