CAR November data is out

It's not pretty at all. The Calif. Association of Realtors (CAR) is showing a 5.4% decline in November median price of a single family house ($661,580) compared to October and September, which were both $673,770.

The stunning part is how quickly the median has fallen - the peak was $747,260 earlier this year and it has already declined 11.4% since then. What will 2008 bring?

Here is the recent data point with in an updated OC median single family home price graph - including a revision of the peak ($747,260 in April 2007).