Home prices stabilizing

The median price of a San Fernando Valley home fell 13 percent in June from a year earlier -- the smallest decline in 18 months and more evidence that prices are stabilizing, a trade association said Thursday.Gregory J. Wilcox in the Daily News.

The median price of a previously owned home was $375,000 last month, compared with $431,000 in June 2008, said the Southland Regional Association of Realtors.

The $56,000 drop is the smallest decrease since the median fell 12 percent to $537,000 in December 2007 from $613,000 a year earlier.