If you’re in the market to buy a home in Southern California, the news just keeps getting better and better. The median home price fell last month once again as the housing market struggles to maintain any sort of momentum going into what is traditionally the height of the home buying season. The median price of a Southern California home fell more than eight percent to $280,000 in May, representing the largest year-over-year in nearly two years.

Wow! There are more than 1,000 foreclosed homes in Los Angeles on the market right now. This is probably a pretty good time to pick up an investment property or two.