Los Angeles Times

In Southern California, home sales are falling and price cuts are more common

LOS ANGELES - A chill is settling over the once white-hot Southern California housing market.

Listings are up. Sales are falling. Price reductions are becoming more common.

The latest evidence came this week when CoreLogic released its monthly market report. Sales across the region fell nearly 18 percent in September compared with September 2017, the largest drop in almost 8 years. The median home price in the six-county region rose 3.6 percent to $523,000, the smallest increase in more than three years.

With the economy still growing, experts don't see any immediate prospect of home prices plunging, as they did in 2008 when they fell

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