California home sales fall 13.3% in May

The L.A. Times reports:

With homebuyer tax credits having expired and little job growth, home sales and prices have remained weak this spring. The median price for a home in California was $249,000 in May, down 10.4% from the same month last year and unchanged from April, a report says.

If you bought in California, in the 6 years: you are probably underwater on your house.