Home prices have fallen 7.6% over the past 12 months

CNN Money reports:

Real estate prices continued to post steep year-over-year declines during the three months ended June 30, according to a new report from the National Association of Realtors (NAR).

Nationwide, the median single family, existing home price plunged 7.6% to $206,500 from $223,500 in the second quarter. The median price is one in which half of all homes sold for more and half sold for less.

and

In Sacramento, Calif. prices plunged 35.6% year-over-year to $$229,500.