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Miserable Nov. for Valley home prices

January 3, 2008 12:00:00 AM PST
Continuing its downward trend, home prices and sales in the San Fernando Valley had a miserable November.A trade association says the median price of a single family home fell to $557,500, down more than six percent from a year ago.

Actual sales of homes fell 53 percent to just 355 transactions.

Valley home sales have dropped every month since October of 2005.